With due respect to the future potential of this future potential Tier 1 project it has been and remains a dog of a stock. Blue sky potential certainly. Maybe.
The WA government couldn’t care less about it. Royalty income from salt is not worth the governments time and hasn’t been for decades. State Agreements under which the current 5 salt projects operate deliver about half the royalty that should be paid under the WA Mining Act.
Jobs in construction is nothing when unemployment sits at sub 4% and operating employment is less than 300 people.
SoP, a by-product of the salt operation, may never be produced. Question to ponder. Why hasn’t Rio or Mitsui produced SoP? Over 50 years of solar salt production and not 1 ounce of SoP from their 5 projects?. Is BCI more clever than these blokes?
Funding. Start selling non core assets. If BCI’s future is salt why is the company still toying with iron ore and holding shares in other companies? To me the BCI board is not focused on Mardie. It’s distracted by issues and matters it shouldn’t be. Do these people suffer hives each time the iron ore price goes up and down and the share price of its other holdings fluctuate?? FOCUS ON THE MARDIE PROJECT! It’s your Tier 1 project for heavens sake.
BCI Price at posting:
28.3¢ Sentiment: None Disclosure: Held
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