One thing that seem s consistent with juniors or mid-cap miners - as soon as they take on the development of any decent sized project their share price gets flushed down the toilet. So if BCI announced tomorrow that they were going to borrow $500 mill and develop the Buckland Project it would likely be an awful outcome for the share price, too many projects have had blowouts, missed timelines and Mr Market hates debt.
BCI have bought themselves some time here - income from Iron Valley plus current operations give a little breathing space to set the Buckland project up in the best possible way for shareholders. The studies are done, it's simply time to find partners and do a great deal.
As I intend to sit in BCI for at least a little while, I hope they take their time to do a great deal and find a way to develop Buckland with minimal debt.
I think the addition of Vorster to the BCI team can only help.
Footnote: I had an IOH order in at $1.25 that got filled today, I still think this will have a good outcome.
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