RIO is currently building Nammuldi extension (the renamed Silvergrass) project. This is needed to maintain the Pilbara blend and stop the Fe content falling below 62%.
However when you are producing >300mtpa, there needs to be regular new mines to just maintain volumes. My understanding is that Koodaideri is capable of being RIO's largest mine. It needs rail, but just a spur line. It normally takes ~3 years from announcing it is about to be developed to first ore. I am not sure the geo of the project and what portion relates to BCI with royalty, however announcing the development is maybe at worst 2 years away as Mac indicated.
The main game is Buckland in the short term and presumably once that catalyst has lifted the price, Koodaideri might come as a surprise to the market later. The next biggest catalyst I am looking for is news around WPIOP project proceeding, as it would build rail and use Cape Preston.
I rarely get really excited by a stock that I make posts on HC, however BCI is super cheap and has several very large potential catalysts that cannot be ignored. I suspect this stock is going up a lot and it is my 2nd largest holding. With high cash, the only thing that potentially could derail this investment is a collapse in the I/O price. Even so, at <2 EV/EBITDA, fundamentally it could re-rate to 6x and still not be expensive.
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Last
23.8¢ |
Change
0.003(1.06%) |
Mkt cap ! $677.8M |
Open | High | Low | Value | Volume |
23.5¢ | 24.0¢ | 23.5¢ | $13.39K | 56.75K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 277811 | 23.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
24.0¢ | 76681 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 277811 | 0.235 |
15 | 222750 | 0.230 |
4 | 95744 | 0.225 |
13 | 300471 | 0.220 |
2 | 19504 | 0.215 |
Price($) | Vol. | No. |
---|---|---|
0.240 | 76681 | 4 |
0.245 | 16263 | 3 |
0.250 | 21000 | 2 |
0.255 | 49822 | 3 |
0.260 | 402765 | 4 |
Last trade - 10.05am 15/08/2024 (20 minute delay) ? |
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