# BCI - BCI Minerals



## LifeisShort (14 December 2006)

New float being listed tomorrow. Spin off from Alkane tenements and ConsMin tenements. The tenements lie around Fortescue Metals iron ore ground. These iron tenements look very promising at first glance. Drilling to begin in March. Closed early heavily oversubscribed. Will be interesting how life begins for this one. We know what happened to other iron ore listed companies recently. Anyone else lucky enough to pick up some shares or know anymore about this stock?


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## Dave31 (15 December 2006)

Seller at $1
Buyer at $0.30


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## LifeisShort (15 December 2006)

If it opens at 30c then I'm buying more of them suckers. Impressive list of top 20 shareholders.


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## LifeisShort (15 December 2006)

Not a bad opening and finish. Closed at 53.5c. Thats a 117% premium to issue price.


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## LifeisShort (19 December 2006)

Just keeps rising. Hit a high of 72c. If anyone has a look at their tenements and surrounding neighbours you'd go wow, FMG, RIO & BHP. It has to settle somewhere but there are no sellers so might be a while yet before it settles. Then again Xmas is upon us.


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## LifeisShort (29 December 2006)

Dave31 said:
			
		

> Seller at $1
> Buyer at $0.30




You are almost there Dave. Hasn't taken long. The stock has strong support and hasn't yet seen a down day since listing. Almost a 4 fold increase from listing price. I'm still holding until drilling begins in new year. Any others been following this one?

I have a resdearch doc from DJ Carmichael on this if anyone is interested but its too large to upload on here do message me and I'll email it to you.


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## namkey (21 May 2007)

This one is up 220% from the start of the month on some drilling results released on the 3rd and some more today.

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=&asxCode=bci


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## winningstreak (22 May 2007)

Any ideas why this is suddenly dropping like a stone???? It droped 25% yesterday and down 20% today. Judging by the drill results this might be a good buy opportunity. Would love to hear other people's thoughts....Cheers WS


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## namkey (22 May 2007)

Apologies for my mistake in the last post, was up 120% for the month, not 220%. Now only up 38% for the month. The only place I've seen any comment on this is at Hotcopper. Seems this was one of their lower grade drill areas so the lower results (ie, only 2m depth of ore) was to be expected. Seems some people that had bought it up to $2 were expecting more though.

I got burnt badly on this as I thought it was a decent result, but the market didn't.


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## dj_420 (22 May 2007)

i thought the drill results were quite poor

very small intersections and lowish grade

take a look at GBG for some huge intersections


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## winningstreak (22 May 2007)

I will take a look at GBG. 
There was still a reasonable number of buys (700k) today of BCI so hopefully it has stopped bleeding for now....


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## Sean K (18 April 2008)

Golly, this is looking average.

Not getting much airplay, for a reason.

Maiden resource estimate seemed to be OK, but it's just kept falling. 

Could be because the overall market has been pretty ordinary, or you just don't want to get involved with anything our old mate Chris ramps. The list is getting long these days. LOL


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## jtb (21 April 2008)

kennas said:


> Golly, this is looking average.
> 
> Not getting much airplay, for a reason.
> 
> ...




Gee thats harsh bro'

Looks to be good value atm with >40MT JORC and cash.
Something else (diversification) to support the value would have me looking very closely @ these guys.
Presently first (alphabetically) on the watchlist.


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## jtb (2 May 2008)

Morning all,

50% up in 10 days Kenna's can't complain about that mate

Solid break on the chart.

Should've bought on instinct


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## Markcoinoz (2 May 2008)

Hi jtb,

They are looking very good.

They have the MOU with FMG for Rail Access.
Plus, they have recently joined the i/O Alliance
comprising of Brockman - Atlas and Ferrs Australia.

Appear to be pushing the right buttons at the right time. 

Being a tightly held stock would also have helped push the price up recently.

I mentioned them last night in Breakout Alerts.
Unfortunately, my post was deleted as i did not post a chart

Hopefully a few will have checked them out this morning before they ran.

Cheers markcoinoz


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## Broadside (2 May 2008)

kennas said:


> Golly, this is looking average.
> 
> Not getting much airplay, for a reason.
> 
> ...




nice timing kennas it has risen exponentially since your posting....will have to watch for your next stock kicking...much like ADI at 20c?


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## jtb (2 May 2008)

Markcoinoz said:


> I mentioned them last night in Breakout Alerts.
> Unfortunately, my post was deleted as i did not post a chart




G'day Mark (nice avatar, you related to Kenna's?)

Yeah the third bounce off 90c support is what had me interested, had a rising buy in for 1.00 but closed it out a smidge too early

Good on you


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## Markcoinoz (2 May 2008)

jtb said:


> G'day Mark (nice avatar, you related to Kenna's?)
> 
> Yeah the third bounce off 90c support is what had me interested, had a rising buy in for 1.00 but closed it out a smidge too early
> 
> Good on you




Hi jtb,

Nope!!  Our avatars are slightly different.

However, Kenna's obviously has good taste

Judging by the good I/O junior plays, many are breaking out.

UMC has also had a good run today.

Monday looks like it might be a continuation.

Enjoy your weekend.

Cheers markcoinoz


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## Sean K (21 May 2008)

Broadside said:


> nice timing kennas it has risen exponentially since your posting....will have to watch for your next stock kicking...much like ADI at 20c?



Hi BS!  Both stocks were heading downhill at that time, unless you think otherwise..... did you think they were going up? And I actually called the turnaround in ADI. 

Both stocks are still way off their highs from when they were actively promoted by members here, but seem to be recovering well. Great stuff. If I hadn't been in the middle of no where the past 4 weeks I may have even traded them. Good luck to all holders.

Must say, they both seem to be off the highs of where people were saying they were good value. Perhaps that's just the general markets fault though. 

All depends on time frames of expected return too of course!


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## njc.corp (10 June 2009)

Anyone want to explain why its a had a sudden  increase in price lately even if it was down 10% today.

Thanks


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## jonojpsg (10 June 2009)

njc.corp said:


> Anyone want to explain why its a had a sudden  increase in price lately even if it was down 10% today.
> 
> Thanks




I'll explain njc, but really all it takes is to check the news

BC wrapped up a deal with FMG to transport all their ore from FMG stockpiles.  All BC have to do is get it out of the ground and to FMGs operations then FMG take it from there.  Deal is worth 25% of revenue to FMG but check details for yourself


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## Agentm (11 June 2009)

tend to agree on the sentiment on this share, only 60 mill shares on issue and its really got a great deal happening..

o/t broady, i think adi is still going to run, but not until the farmout is done, then they can fly the flag and the money will come for it..  

happy to be on some other shares  like this one myself.


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## LeeTV (19 June 2009)

June 19, 2009 
Article from:  Australian Associated Press 
BC IRON plans to raise $22 million from a sale of new shares, as it welcomes a new cornerstone investors to its share register.

The Perth company, which has an iron ore project in the Pilbara region of Western Australia, will offer 8.5 million shares to institutional investors at $1.10 each under a placement to raise $9.4 billion.

It will also undertake a non-renounceable one-for-six right issue at the same price to raise $12.6 million, BC Iron said.

Regent Pacific Group will take up six million of the total shares on offer, resulting in a holding of 7.5 per cent in BC Iron.

"The board of BC Iron is pleased to welcome Regent Pacific Group as a cornerstone investor to the placement and entitlements issue, providing strong support for the raising,'' it said.

Regent Pacific is a Hong Kong-listed mining company with interests in copper, zinc and gold that also has interests in thermal coal assets in Asia, principally China. 

It has interests in several listed companies including, Bannerman Resources.



http://www.theaustralian.news.com.au/business/story/0,28124,25658947-36418,00.html


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## evas34 (20 August 2009)

Anyone into this one?

A simple calculation: 

BCI will start production next year in April, and having roughly 89m ore reserve at 57%, the current market cap is 77m.

Compared to FMG, which started production one year ago, have roughly total 4 billion ore reserve at 50-60%, its market cap 13941m. 

After BCI production, it will probably reach the same propotional market cap as FMG, which are 300m, 13941/(4000/89) = 300, it suggest a more than $3 share price.

BCI has all the transportation facility as FMG, and not going to worry about the sale, as China can take all BCI's ore, due to the agreement signed by FMG, the only risk would be the decrease of sale price of ore. I wouldn't worry about it as the $43 operation cost would definitely less than the spot price of iron ore. 

the equity issue price of $1.1, all the major shareholders have already taken part of them, the current share price should be really attractive in my eyes, cant figure out the reason, that still people want to sell it. 

Cheers


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## spectrumchaser (27 August 2009)

Hi Evas 34,
 I'm a BCI holder ,following their journey for the last two years.My future price target is more than the $3.00 you
calculated !
They have a premium ore which has Ultra low Phosphorus
and very good sintering qualities.
BCI also has a great management team that have achieved
a lot in a few years.


Sintering Qualities of BCI Ore
•  Independently tested in China – Shandong Uni
•  Blended with a typical fines sinter feed
•  Using 0, 10, 20, and 30% blend
•  Resulted in increased quantity and quality of sinter
– “First Class”
•  Test work results:
•  Increased sinter yield
•  Improved sintering time
•  Improved tumble Index (strength)
•  Improved productivity
•  Ultra-low Phosphorus (0.016%)
•  Sample tested 55.4% Fe & 2.4 % Al2O3


         BC Iron Ore Marketing Strategy
  Customised sinter blend – high Value in Use
  Ultra-low P – “like gold” – blend Indian/Chinese
ores
  Develop Long Term Contracts with niche mills to
deliver security from Mine to Mill

(from BCI presentation at 12th Annual Global iron Ore &
 Steel Forecast conference March 2009)


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## DVEOUS (27 August 2009)

I hold FMG.

If you compare BCI SP movement against FMG since the June peak, BCI is easing back considerably. 
FMG on the other is currently trading above the June peak.
Either BCI has been oversold, or there is a problem that a layman like me doesn't know about.

I thought about adding some BCI to my portfolio but concluded that was a waste of time, considering the 50/50 JV with FMG.  One iron ore miner is enough.

Anyway, with the Nullagine JV (the 57% Fe deposit you refer to), FMG holders should get exposure to any good fortunes that BCI can produce.


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## spectrumchaser (28 August 2009)

Hi Dveous,

Many investors in the present market climate (wobbly knees) would
rather invest in producers than companies still in development.

BCI will be re-rated when they start production in 8 months and onward
as the income flows in .


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## evas34 (9 September 2009)

Kind of worried about the environmental final approval, haven't seen an announcement yet, is it due last week?


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## skip9 (16 February 2010)

No talk about BCI since last year. 

Feel as if BCI can take off soon, should start production of Iron Ore soon and with all reports being considered, the quality of the iron ore is there.


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## champ2003 (31 March 2010)

skip9 said:


> No talk about BCI since last year.
> 
> Feel as if BCI can take off soon, should start production of Iron Ore soon and with all reports being considered, the quality of the iron ore is there.




I am amazed that no one has posted a thing regarding BCI?

This company is going to be Aust's next IO producing company and with the IO price now doubling, the share price will be considerably higher in the next year.


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## Peterwasana (21 January 2011)

Hi
Have shares in BCI and need direction with the proposed scheme implementation agreement by Regent Pacific. BC Iron board unanimously recommends the cash offer of $3.30 per share however implementation is not til May 2011. 
My main concern is what happens with BCI shares between now and May ie
1. if the BCI market price exceeds the Regent Pacific offer during this period
2. ramifications of selling @ market now and investing elsewhere
3. crystal ball comment on the share price if the proposal is rejected by the shareholders
4 if the Regent bid is successful will BCI exist as an entity in which I can still invest

This was my first foray into the share market some 6 months ago and now suddenly I am way out of my depth. 
Any unsolicited advice from the devoted would be greatly received.


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## JimBob (21 January 2011)

Peterwasana said:


> Hi
> Have shares in BCI and need direction with the proposed scheme implementation agreement by Regent Pacific. BC Iron board unanimously recommends the cash offer of $3.30 per share however implementation is not til May 2011.
> My main concern is what happens with BCI shares between now and May ie
> 1. if the BCI market price exceeds the Regent Pacific offer during this period
> ...




Well, the current market price of BC Iron is $3.28 so you could sell on market for the takeover price.  Of course, there may be a counter offer by a third party which could drive the price higher which is something you need to consider if you sell out now.  You should do some research into who the substantial shareholders are and if they are likely to accept the deal which may help you decide whether to sell now and get your money in a few days or hold out and see what happens.

It looks as though the takeover bid was only at a 4% premium to the share price at the time which seems low.  Given that, the share price shouldnt drop too much if the takeover bid is rejected but im not sure if the share price has risen in anticipation of a takeover.

By the looks of it, if the takeover is successful, BC Iron will cease to exist and you wont be able to invest in it, you may be able to invest in the company that is doing the takeover.


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## Steve C (24 July 2012)

Solid positive announcement released today... shares up 9%
http://www.wabusinessnews.com.au/article/BC-Iron-shares-up-9-on-export-predictions


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## ParleVouFrancois (6 September 2012)

Anyone still looking at BC Iron? Shaping up very well fundamentally, P/E of around 5, over third of the market cap in cash backing, paying a ~7% dividend fully franked with just one payment (annual payment of ~14% very sustainable, even at today's prices).

Only downside I can see is if the price drops below 70 dollars for an extended period of time, then the P/E shoots up to around 10ish according to the model I've built. Every day that the price stays above the ~70 dollars mark, and BC Iron is making hay while the sun shines!

Bought a fair few of these, currently my favourite company.


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## tinhat (26 March 2013)

I plan to read up on BCI tonight. Was just wondering if anyone can tell me quickly what the mine life is expected to be?


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## chops_a_must (8 May 2013)

In today.

This is more of an investment type for me. But still, a pretty good risk/ reward if it does go through support.

Low P/E, good yield, I can't see much wrong apart from the relatively short mine life.

It definitely has the best chart out of the IO plays.


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## piggybank (7 November 2013)

chops_a_must said:


> In today.
> 
> This is more of an investment type for me. But still, a pretty good risk/ reward if it does go through support.
> 
> ...




Congratulations chops_a_must. 

Since your post (8 May) the stock has risen from $3.28 to close today $5.10 - nearly 60% rise. Not bad for 6 months work, if of course you still have them!!


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## Zylatis (10 November 2013)

Indeed! Is it naive to think this still has a bit more to go?


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## tinhat (13 June 2014)

BCI all-in sustaining costs are tracking around $53 per tonne. That's a number I have in my head from a calculation I did recently. I can't remember the specifics but I think that is a conservative cost base. If someone has figures that contradict this please let me know. Their lower grade product gets discounted even more during the bottom of the price cycle. Using current price of US$90 for Fe 62% let's say BCI's iron at current spot prices can fetch US$70. Let's assume that the $AU and $US are at parity (to factor in some currency risk) so let's say based on the current market price, the margin is $17 per tonne. Take the lower end of current guidance of 4.4MT - that works out to earnings per share of $0.60.

Reserve depletion is a problem and currently mine life at decent DSO grades is limited.

Seems a buy to me.


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## ParleVouFrancois (15 June 2014)

I thought BC Iron had premium product, the reason for their discount was a purchase agreement with some Chinese company which funded the initial capital costs, and they simply aggregated the sales price of both the stuff at 100% price, and the discounted stuff to the Chinese company.


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## tinhat (15 June 2014)

ParleVouFrancois said:


> I thought BC Iron had premium product, the reason for their discount was a purchase agreement with some Chinese company which funded the initial capital costs, and they simply aggregated the sales price of both the stuff at 100% price, and the discounted stuff to the Chinese company.




I believe the "Bonnie Fines" product (as it is marketed) of the Nullagine Joint Venture is 57% Fe. From the resource update released in March (p3):


> Ore Reserves were estimated by completing pit optimisations and subsequent detailed pit designs. Two cut-off
> grades were applied, with waste characterised as being below 55% Fe or above 3% Al2O3. These parameters
> were derived to achieve a product grade of 57% Fe and 2% Al2O3, which is the desired product specification
> for the NJV based on marketing studies.



Page 2 states:


> The DSO Mineral Resource is reported using cut-off grades between
> 52% and 56% Fe, which were selected to achieve a 57% Fe specification grade.



I don't know what that means exactly; whether it means that they have already mined higher grade ore that they have reserved for blending with what they will extract over the remainder of the mine life.

The report also states (p3):


> Current undiluted Ore Reserves are comprised entirely of DSO material. A dry crushing and screening process
> is being utilised at the NJV, which was selected based on bulk sampling and metallurgical test work
> undertaken as part of the feasibility study. Processing recoveries are effectively 100%.
> 
> ...




http://www.bciron.com.au/images/fil...eserves-and-Mineral-Resources-31-Dec-2013.pdf

Regarding the "quality" of Bonnie Fines, I've read stuff from BCI about "pisolite sinter blend", low Al, Si, S and blah, blah that make this product attractive to smelters but I know nothing about anything. An analyst told me that the BCI product is sold at 15% discount to 62%FE.

I'm just wondering if I have my all-in sustaining cost figure for the JV right at around $53-4. The most recent guidance* (a week or two back) was for total cash costs closer to $50. They prepaid a whole chunk of forward rail freight a while ago so I'm not sure how that affects the ongoing all in sustaining cost.

* http://clients2.weblink.com.au/clients/bciron/article.asp?asx=BCI&view=6678382


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## tinhat (17 June 2014)

I've done a quick google around to see what info I can find on BCI's costs for the Nullagine JV with FMG. 

The figure I had in my head appears to be the most recently reported cash cost of $54 not the total cost.
Guidance for cash costs for the life of the mine are $46-$50.
http://www.theaustralian.com.au/bus...-lower-h2-profit/story-e6frg90f-1226898080299

.....

An article from today on news.com.au states BC Iron's all-in cash costs as forecast to fall to $60-$70, "depending on currency fluctuations" - which makes me think this figure in $US.
http://www.news.com.au/finance/busi...as-miners-uneasy/story-e6frfkur-1226957705968

......

Argonaut Forecast
C3 costs $AU
2013A 61.4
2014E 67.7
2015E 65.0
2016E 65.0

C3 = direct costs plus overheads plus royalties plus depreciation & amortisation
from https://secure.argonaut.com/FileLink.asp?DT=R&DID=1801&DP=163621

......

An article by Barry Fitzgerald in the Oz a while ago states BC Iron's costs as US$70 per tonne. (lost the reference now).


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## Wysiwyg (20 November 2014)

Down almost 90% from its all time high. Must be a record for consecutive weeks with Friday close lower than Monday open. Buy low, sell lower. Greatest daily volume all year yesterday 19 Nov.


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## Wysiwyg (20 November 2014)

Today passed yesterdays highest daily volume for the year and by tomorrow afternoon the highest weekly volume  ever will be established. Lower share price and increasing volume suggests the recent days-and-weeks buyers are cutting losses as larger share holdings are achieved with the same outlay. Upbeat AGM spiel as one would expect to alleviate any fear of prolonged surplus supply and lack of demand environment.


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## Nortorious (20 November 2014)

Wysiwyg said:


> Today passed yesterdays highest daily volume for the year and by tomorrow afternoon the highest weekly volume  ever will be established. Lower share price and increasing volume suggests the recent days-and-weeks buyers are cutting losses as larger share holdings are achieved with the same outlay. Upbeat AGM spiel as one would expect to alleviate any fear of prolonged surplus supply and lack of demand environment.




Chart still looks horrible so if you are shorting, you are going to be making a motser!


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## System (6 December 2017)

On December 6th, 2017, BC Iron Limited changed its name to BCI Minerals Limited.


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## peter2 (14 August 2020)

Rather than me telling you about BCI, I'll let these few images from BCI's latest corporate presentation tell their story. 





However, there's a lot of development to go.


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## Dona Ferentes (26 August 2021)

one view.


> _BCI is one of those rare companies where, after investing, we found the board and management were very much attuned to our way of thinking.  As a result, our engagement with BCI has been supportive not adversarial.  Our initial attraction to BCI lay in its royalty over the iron ore mine at Iron Valley.  _





> _However, over time, we have come to realise that the value of this royalty pales in comparison to the company’s undeveloped Mardi salt and potash project.  Mardi is one of those rare resource projects that has an infinite resource (seawater) that requires little ongoing capital spend once the project has been built. _






> _ We have confidence that the extremely well credentialed Board and management team will procure the requisite funding and successfully build what we believe to be the most attractive natural resource project in Australia.  At steady state production, Mardi is expected to generate approximately $260m of earnings, year in, year out, for over 100 years.  Longer term, we believe the company should be worth multiples of its current market capitalisation of ~$250m. _



Sandon Capital (SNC) - Annual Report


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## Miner (26 August 2021)

Dona Ferentes said:


> one view.
> 
> 
> 
> ...



Great report excepting advising strength of its current management below the board who are entrusted to develop and deliver the project to reach design plate capacity on a short term.
My concern is there and until convinced otherwise, I have kept me on the side line.
Probably in next 6 months there will be a CR and ramp up prior to that.


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## divs4ever (26 August 2021)

maybe the recent spike in Iron  prices will keep the begging bowl in mothballs longer 

 ( i hold SVW , so i do hope this is a winner )


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## Dona Ferentes (7 April 2022)

while Mardie has had its official opening today, with Premier McGowan in attendance, the earlier enthusiasm of a year ago seems to be wearing thin.

*Market outlook  *
BCI expects that the current inflationary pressures on construction inputs such as fuel, labour, transport, and equipment will lead to increased capital cost for particularly the civil component of the Project. At the same time, BCI notes the strong increases in salt and sulphate of potash (SOP) prices since the completion of the Mardie feasibility studies in mid-2021. Since that time, the average contract price of Australian salt imported into Asia (based on government trade information) has increased by more than 20% to approximately US$50/t (CIF), with even higher spot prices being realised in China.  In addition, the SOP price has increased in this period by more than 70% to around US$930/t (FOB Europe).   



> BCI’s Managing Director, Alwyn Vorster said: “_Cost pressures are evident across the mining and construction sectors in Western Australia. We are closely monitoring and managing our contracts and are reviewing the inflationary impact on the total Mardie capital cost. We are also reviewing our long-term commodity price assumptions and will advise the market when this work is complete. It is our expectation that even with these increasing cost pressures, the Mardie Project financial returns over multiple decades will remain attractive_.”




someone asked a Q today at Trigg presentation about BCI and a perceived SO4 market being swamped (unlimited seawater) but this was swatted away. Something about the chemistry and Chlorine separation difficulties. I wish I could remember. The solar *salt *project could be a different story.


....................................
BCI receives quarterly royalty earnings from Iron Valley, an iron ore mine located in the Central Pilbara region of Western Australia which is operated by Mineral Resources Limited (ASX:MIN). BCI’s other assets include substantial shareholdings in Agrimin Limited (ASX:AMN) and Highfield Resources Ltd (ASX:HFR), potential royalties and/or deferred payments from iron ore projects at Koodaideri South, Bungaroo South, Kumina and Nullagine.


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