Good post Tcf, If management were smart they wouldn't have taken...

Good post Tcf, If management were smart they wouldn't have taken over ioh and they would have stopped production last year. The writing has been on the wall for the iron ore price for atleast a couple of years. Iron ore will continue to fall until all oversupply has been shaken out. I suspect we will see the iron ore price in the twenties to shake out the last of the oversupply. I don't know if it will bottom next year or in 2017 but either way bci will not survive as an iron ore miner. I couldn't believe bci took out iron ore holdings when they did, it was so incredibly obvious iron ore was going much lower. IOH were very lucky they were taken out when they were. Bci even had a get out of jail free card. And that card was when they were doing due diligence on ioh if the iron ore price dipped below 70 dollars a tonne for a month then they had the option to terminate the deal. During this time iron ore did go below 70 dollars a tonne for more than a month and incredibly bci still went through with the takeover. I couldn't believe it, the mistake was so obvious. Anyway those of you cheering the share price lower so you can buy more, maybe cheering it all the way down until it goes into administration. I wouldn't buy shares in this company for the outlook is very grim.