Status of BCI

I hope that Morgan Ball reads this posting or it is brought to his attention. It is my opinion that he had done certain things in the past that can now be seen were very far sighted.

In particular, I am referring to his handling and accumulation of cash since production commenced. Just imagine where this stock would be without it,s current very healthy cash in hand amount! BCI would not survive in it's current form, the vultures would be circling. Yes, the vultures would bail BCI out. And these vultures would likely have Chinese connections and the conditions would be crippling. Similarly, if a capital raising were necessary in the current climate, one can imagine what would happen to the share price. And the dilution would be dreadful.

When the IO price started to decline, and we shareholders were just getting used to a very healthy dividend, I was hoping a "special dividend" might have been given to support the falling dividend amount. Now of course I am glad that did not happen. Thanks MB for your foresight.

Of course, if the IO price does not improve then BCI and a whole lot of other producers will be in trouble. But with the BCI cash balance, the company will survive for some time before there is a need for assistance or a capital raising. But expect low dividends until the IO price does improve.

IMHO the current low share price is the result of the low IO price and compounded by the IOH takeover coincident with that price. Unfortunate but true. And not of MB's making, except the takeover.

If you invest in IO through BCI or IOH then expect to be hurt in times of low IO price. Do not blame company management. In this case thank MB for his foresight.

The above are thoughts and I have no connection with MB or BCI other than being a holder of BCI stock. I sold my IOH shares soon after the takeover was announced.

My sentiment is actually long term buy or buy on a rising IO price. This could fall a bit further if the IO price does not improve.

And MB, please be prudent with the timing of spending that cash.