has focused on delivering growth by generating cash flows from
the NJV. With a cash position of approximately $138.5 million
at the end of June 2013 and a well-controlled cost structure,
BC Iron is in a commanding position to determine its future
growth and maximise its returns to shareholders.
Commenting on BC Iron’s future, Mr Ball said “I am very
cognisant of the company’s strategy to focus on a business
model that is highly cash generative to fund future growth
organically and through M&A while retaining and enhancing
the ability to pay regular dividends to shareholders”.
The next phase of growth for BC Iron will focus on growing
the existing resource base and extending the mine life at the
NJV, investigating other opportunities in the Pilbara by
leveraging off existing relationships with stakeholders, and
developing strategic relationships in other iron ore jurisdictions.
BC Iron’s impeccable track record so far suggests there is
a high probability it will build on this success further in the
Pilbara while recreating similar opportunities in other iron ore
jurisdictions like Brazil, where BC Iron already has a 50:50
alliance agreement with ASX listed Cleveland Mining to identify
and develop greenfields iron ore exploration projects.
Faced with a number of growth opportunities and significant
cash on its balance sheet, BC Iron has a very bright and exciting
year ahead.
ASX: RXL
Phone: +61 8 9226 0044
Fax: +61 8 9322 6254
www.roxresources.com.au
Growth Through
Exploration
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Crushing crew
Train loaded with Bonnie Fines