where to from here?

Nice to see the dividend in my bank account this morning. Thank you BCI management.

So, where to from here?

The 3 priorities are to:
1. Extend the mine life of the NJV.
The trial beneficiation will commence soon and is expected to be finished by the end of the calendar year. My feeling is that management is, as usual, under promising.
I expect it to be a goer. I'm fairly sure the company has an idea of the cost and returns but requires confirmation. So, I'll put a tick next to priority 1.

3. Other iron ore jurisdictions. Good to see that the Alliance is making progress. With the combined knowledge of BCI & CDG and local expertise, I expect this arrangement to be a future money spinner.
Put a tick next to priority 2.

2. The rest of the Pilbara & WA.
I think this will be the next big move. Whatever it is, it will involve FMG - not only for the rail/port usage but the good relationship & trust that has been developed.
Will it be Mindy Mindy (FMG 50% Consmin 50%), or some sort of arrangement with AGO (AGO hasn't pissed FMG off like BCK & FMS)?.
Or maybe BCI buys a company with heaps of ore but little money and even less hope of getting it to port.


Whatever it is, I suspect it will build on the knowledge & expertise that BCI has gained from the NJV.

The purchase of the extra 25% from FMG was, in my opinion, audacious/surprising, but completely logical.

Two things have thrust BCI into the public's attention lately:
The purchase from FMG, and
The 30c/share dividend.

BCI now has the banks and major funds onboard. It has cash in the bank and it has good friends in Henghou and FMG.

I await the next installment with interest.