I’ve read all posts (both ours and bci’s) since the announcement and there have been some great thoughts. I’ve got to say the bci guys on hc do seem just as cordial as we ioh’ers….!!!
Firstly, if you haven’t had the chance I’d certainly recommend spending the 44 minutes or so and listening to the recorded conference call from yesterday’s announcement. Lots of good info from it. Follow the instructions from bci’s website at - http://www.bciron.com.au/investors/investor-calendar.html. It’s a 1800 number so may cost a few $, but I reckon worth it.
Just a few of the many gems I took from it to consider –
* Bci have attributed roughly $150mil of the offered $250mil purchase price to IV. (Only) $50mil to BH and $50mil cash. (no value applies to MR or Mardie – Alwyn mentions long term potential of MR)
* After being pushed, Alywn provides a ‘guestimation’ of IV cost price to min of circa $70.
* Also, much debate and excitement on bci threads re the phos – Alwyn estimates 5-6% discount due to phos on IV. Also highlighted that 60% of IV is 'lump' io...
* Royalty from IV not declared but Alwyn mentions Annual Report will show income from IV for bulk sample.
* Estimates min will be producing at 5mtpa at IV in this financial year
* Comments re Bucklands – ioh has had discussions with Bao re Bucklands
* Broker asked bci whether they shall ‘park’ bucklands to maintain bci divvy over next year/two and look to maximise benefit from bucklands with a rail deal utilising ankatell. Response was along the lines of “One of many possible scenarios we will consider…”
Having done some reading and listening, I have come away thinking that, whilst this seems a good deal for ioh holders, I’m of the opinion that bci need us more than we need bci. I’m also of the opinion that we may well see other offers – min were prepared to have a dash at aqa to get a seat at the WPIOP so one would think they will certainly be interested. And then, as welkin and others have stated, there’s Bao…….
Good luck to all holders.
Cheers,
Mac
Please dyor.
IOH Price at posting:
$1.34 Sentiment: Hold Disclosure: Held
