Looking at the SP performance for year, BCI's performance is at...

Looking at the SP performance for year, BCI's performance is at the bottom of selected iron ore miners with a loss of 7.68%.

Is this because directors are not able to explain effectively royalty strategy?
Is it because of high administration costs ($6+ million spent only to receive royalty cheque)?
ASX Iron Ore Companies

10:49am 20/09 - delayed

		Code	Company	Price	Change	% Chg Chg	High	Low	Volume	Mkt Cap	1 Year
1		CIA	Champion Iron Ltd	$0.995	-0.005	-0.50%	$1.005	$0.995	10,262	$385,148,917	+314.58%
2		AGO	Atlas Iron Ltd	$0.018	0.00	0.00	$0.018	$0.017	54,717,930	$166,755,120	+80.00%
3		IRD	Iron Road Ltd	$0.20	0.00	0.00	‐	‐		$135,510,857	+66.67%
4		MGX	Mount Gibson Iron	$0.395	+0.01	+2.60%	$0.40	$0.39	240,828	$433,142,194	+42.60%
5		RIO	RIO Tinto Ltd Strong Buy	$66.10	-0.79	-1.18%	$66.79	$66.10	343,403	$28,039,118,433	+42.06%
6		SDL	Sundance Resources	$0.004	-0.001	-20.00%	$0.005	$0.004	22,310,486	$28,409,631	+33.33%
7		BHP	BHP Billiton Ltd	$26.07	-0.23	-0.88%	$26.31	$26.06	1,007,197	$83,728,787,107	+29.44%
8		GRR	Grange Resources	$0.135	+0.005	+3.85%	$0.135	$0.13	313,949	$156,240,724	+22.73%
9		FMG	Fortescue Metals Group	$5.33	-0.10	-1.84%	$5.395	$5.32	4,390,040	$16,596,544,145	+9.11%
10		BCI	BC Iron Ltd	$0.155	0.00	0.00	$0.155	$0.155	142,999	$61,220,181	-7.69%