The bottom is not yet "in" for iron ore. Has come off 25% in the...

The bottom is not yet "in" for iron ore. Has come off 25% in the past six weeks to be at 10 yr lows (in USD) so another 25% in the next six weeks is possible and the NJV perhaps goes into care & perhaps Iron Valley also.
In that scenario she becomes a dormant company pretty much waiting out a price cycle and doing the odd bit of exploration for non-iron resources. Keep the cash burn down to $5-$10 million p/a and they can survive 7-10 yrs which is hopefully long enough to see a new price cycle in iron ore.
So... In that scenario I can see the share price slipping well below 23c, below 20c, easy to see 10c-12c if this scenario eventuates.
They aren't a takeover target just as AGO hasn't attracted a sniff even at 5c. Stokes can also easily block a predatory bid.
Just keeping it real - Don't risk any more than you are prepared to lose here - BCI is becoming higher risk and more speculative by the day.
Thinking only about the potential upside to this share price could be a big mistake.