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BCI Minerals Limited (BCI) Report Analysis

Corporate Events

Negative

BCI Minerals Limited Appoints Miriam Stanboroug...

2022-06-13 22:13:00

BCI Minerals Limited announced that Ms. Miriam Stanborough has been appointed to the BCI Board as Non-Executive Director. Ms. Stanborough is a...

Positive

BCI Minerals Limited Announces Mardie Project Update

2022-04-06 22:18:00

BCI Minerals Limited celebrated the official commencement of construction on 25 March 2022 at the Mardie Project site, 100km southwest of Karr...

Neutral

BCI Minerals Limited to Report Q3, 2022 Results...

2022-03-25 02:32:00

BCI Minerals Limited announced that they will report Q3, 2022 results on Apr 29, 2022

Positive

Department of Mines, Industry, Regulation and S...

2022-02-08 21:21:00

BCI Minerals Limited announced that Mining Leases have been granted by the Department of Mines, Industry, Regulation and Safety (DMIRS) for it...

Negative

BCI Minerals Limited has completed a Follow-on ...

2021-12-24 00:00:00

BCI Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 20.640584 million. Security Name: Ordinary Shares Secu...

Neutral

BCI Minerals Announces Additional Access Agreem...

2021-12-23 09:04:00

BCI Minerals Limited announced that Access Agreements have been executed with Santos WA Northwest Pty Ltd. as operator of the Varanus Island G...

Negative

BCI Minerals Limited Accepts Resignation of Jen...

2021-12-21 00:26:00

BCI Minerals Limited has accepted the resignation of Ms. Jenny Bloom from the Board of Directors.

Positive

BCI Minerals Limited Announces Cape Preston Wes...

2021-12-19 21:56:00

BCI Minerals Limited announced that the Port of Cape Preston West Indigenous Land Use Agreement has been executed. The ILUA is a tripartite ag...

Positive

BCI Minerals Limited Announces Ministerial Appr...

2021-11-24 21:44:00

BCI Minerals Limited announced that, in accordance with section 45(1) of the Environmental Protection Act 1986, the Minister for Environment, ...

Negative

BCI Minerals Limited has completed a Follow-on ...

2021-11-19 00:00:00

BCI Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 240 million. Security Name: Ordinary Shares Security T...

Neutral

BCI Minerals Limited - Shareholder/Analyst Call

2021-11-18 07:32:00

EGM

Neutral

BCI Minerals Limited, Special/Extraordinary Sha...

2021-11-18 07:32:00

BCI Minerals Limited, Special/Extraordinary Shareholders Meeting, Dec 20, 2021, at 10:00 W. Australia Standard Time. Agenda: To consider Propo...

Negative

BCI Minerals Limited has filed a Follow-on Equi...

2021-11-18 00:00:00

BCI Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 240 million. Security Name: Ordinary Shares Security Type:...

Negative

BCI Minerals Limited has filed a Follow-on Equi...

2021-11-18 00:00:00

BCI Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 20 million. Security Name: Ordinary Shares Security Type: ...

Positive

BCI Minerals Limited Announces Positive Progres...

2021-11-11 00:27:00

BCI Minerals Limited announced positive progress regarding the Mardie Salt & Potash Project environmental approval process. On 7 July 2021, th...

Neutral

BCI Minerals Limited - Shareholder/Analyst Call

2021-10-22 06:37:00

Annual General Meeting

Positive

BCI Minerals Limited(ASX:BCI) added to S&P/ASX ...

2021-09-20 00:00:00

BCI Minerals Limited(ASX:BCI) added to S&P/ASX Emerging Companies Index

Positive

BCI Minerals Limited Announces Mardie Trial Pon...

2021-09-01 22:27:00

BCI Minerals Limited announced that its northern embankment trial is nearing completion, construction of its southern trial pond is commencing...

Negative

BCI Minerals Limited Appoints Stephanie Majtele...

2021-06-30 00:50:00

BCI Minerals Limited announced the appointment of the Company's General Counsel, Stephanie Majteles as Joint Company Secretary, together with ...

Negative

BCI Minerals Limited Appoints Miriam Stanborough to Board as Non-Executive Director

2022-06-13 22:13:00

BCI Minerals Limited announced that Ms. Miriam Stanborough has been appointed to the BCI Board as Non-Executive Director. Ms. Stanborough is a chemical engineer with more than 20 years' experience in the mineral processing industry across various commodities including copper, uranium, gold, silver, alumina, mineral sands and lithium. She has previously held senior roles at Monadelphous, Iluka Resources, Alcoa and WMC Resources across innovation and technology, technical development, production management, project management, business improvement, and human resources portfolios. Ms. Stanborough is currently a Non-Executive Director of Pilbara Minerals Limited, the Chair of the Minerals Research Institute of Western Australia (MRIWA), Deputy Chair of the Northern Agricultural Catchments Council (NACC), and the Deputy Chair of Scouts WA. In accordance with Rule 11.4 of the Company's Constitution and ASX Listing Rule 14.4, Ms. Stanborough is required to stand for election at the next general meeting of shareholders, noting the BCI Annual General Meeting is scheduled for 24 November 2022.

Positive

BCI Minerals Limited Announces Mardie Project Update

2022-04-06 22:18:00

BCI Minerals Limited celebrated the official commencement of construction on 25 March 2022 at the Mardie Project site, 100km southwest of Karratha. Premier of Western Australian, the Honourable Mark McGowan MLA, joined members of the BCI Board, leadership team and local stakeholders to officially launch the construction milestone.

Neutral

BCI Minerals Limited to Report Q3, 2022 Results on Apr 29, 2022

2022-03-25 02:32:00

BCI Minerals Limited announced that they will report Q3, 2022 results on Apr 29, 2022

Positive

Department of Mines, Industry, Regulation and Safety Grants Mining Leases to BCI Minerals Limited for 100% Owned Mardie Salt & Potash Project on the Pilbara Coast of Western Australia

2022-02-08 21:21:00

BCI Minerals Limited announced that Mining Leases have been granted by the Department of Mines, Industry, Regulation and Safety (DMIRS) for its 100% owned Mardie Salt & Potash Project on the Pilbara coast of Western Australia. Mining Leases M08/525, M08/526 and M08/527 are valid for an initial term of 21 years to 2 February 2043, with further extensions of term available subject to Ministerial approval. The grant of Mining Leases follows the successful completion of land access agreements with gas pipeline easement holders, pastoral lease holders and native title parties. With all Mining Act tenure and primary environmental approvals in place for the Definitive Feasibility Study (DFS) development footprint, secondary approvals allowing construction are now being facilitated. As outlined in BCI's Optimized Feasibility Study (OFS) announcement on 21 April 2021 and in the Ministerial Statement announcement on 25 November 2021, additional tenements acquired by the Company will allow for a project layout optimization and will be subject to further environmental assessment, secondary approvals, and an additional Mining Lease (M08/539) application over the next 12-months.

Negative

BCI Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 20.640584 million.

2021-12-24 00:00:00

BCI Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 20.640584 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 48,001,357 Price\Range: AUD 0.43 Discount Per Security: AUD 0.00473

Neutral

BCI Minerals Announces Additional Access Agreements Finalised

2021-12-23 09:04:00

BCI Minerals Limited announced that Access Agreements have been executed with Santos WA Northwest Pty Ltd. as operator of the Varanus Island Gas Pipelines (Santos) and Chevron Australia Pty Ltd. as operator of the Gorgon Domestic Gas Pipeline (Chevron). The Agreements set out the conditions for safe and sustainable interactions between the Mardie Project and the gas pipelines that intersect the project footprint and are valid for as long as the project and pipelines co-exist. The signing of the agreements allows for the objections to be lifted which will facilitate the grant of key mining tenure by the Department of Mines Industry Regulation and Safety (DMIRS) and associated secondary approvals. This is expected to take place in January 2022, allowing construction at Mardie to commence.

Negative

BCI Minerals Limited Accepts Resignation of Jenny Bloom from the Board of Directors

2021-12-21 00:26:00

BCI Minerals Limited has accepted the resignation of Ms. Jenny Bloom from the Board of Directors.

Positive

BCI Minerals Limited Announces Cape Preston West Port - Approvals Progress

2021-12-19 21:56:00

BCI Minerals Limited announced that the Port of Cape Preston West Indigenous Land Use Agreement has been executed. The ILUA is a tripartite agreement between the Wirrawandi Aboriginal Corporation (`WAC'), the Western Australian Government and BCI to allow thecreation of a port reserve at Cape Preston West. The WAC represents the Yaburara and Mardudhunera people, the Traditional Owners of the land associated with the Mardie Salt & Potash Project and particularly the northern area where the port and jetty facilities are planned. Mardie is the project proponent for the proposed Port of Cape Preston West which will be controlled by the Pilbara Ports Authority (PPA). The execution of the ILUA provides the necessary native title consents to allow the Western Australian Government to formally create the port reserve. Land assembly for the port reserve has commenced with field surveys now complete and detailed plans to be lodged in the short term. This is a key step towards the port establishment and BCI's planned construction commencement in early 2022. In addition, PPA has issued a Decision Notice in support of a Development Application (DA) for the Mardie Port facilities. The DA Notice secures the concept layout of the Mardie port facilities, which allows key port agreements to be finalised with the PPA and for BCI to complete detailed construction design of the Mardie port facilities. The Mardie port facilities will be located completely within the footprint which recently received Part IV approval from the Minister for Environment.

Positive

BCI Minerals Limited Announces Ministerial Approval for Mardie Project

2021-11-24 21:44:00

BCI Minerals Limited announced that, in accordance with section 45(1) of the Environmental Protection Act 1986, the Minister for Environment, the Hon. Amber-Jade Sanderson MLA, has determined that EPA Report 1704, relating to the Mardie Salt & Potash Project, may be implemented subject to the conditions set out in Ministerial Statement Number 1175. Full details can be found on the Government of Western Australia's Environmental Protection Authority (EPA) website. Conditions contained in the Ministerial Statement are consistent with those set out in the recent appeals determination and allow BCI to develop an environmentally sustainable project that preserves the flora, fauna and water systems of the area. The conditions will not have a material impact on the Mardie Project design, costings or operations, and will be incorporated in BCI's environmental management plans to ensure impacts are minimised and managed. Mardie's footprint was planned approximately 5km inland from the coastline, resulting in the Project having minimal impact on coastal vegetation which includes algal mats and samphire flora. Barren mudflats make up more than 90% of the pond area, with another proportion of the final Project footprint covered by Mesquite, which is an introduced species and declared a weed in Western Australia. BCI will work with authorities to clear and eradicate the weed from specific Project areas. BCI will now cooperate with various authorities to finalise the secondary approval assessments which will enable development to commence as proposed in the Environmental Review Document (`ERD') based on Mardie's Definitive Feasibility Study (`DFS') which included all land and marine areas for a 4.4Mtpa salt operation and its associated port facilities.

Negative

BCI Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 240 million.

2021-11-19 00:00:00

BCI Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 240 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 395,348,837 Price\Range: AUD 0.43 Discount Per Security: AUD 0.00473 Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 162,790,698 Price\Range: AUD 0.43 Discount Per Security: AUD 0.01548 Transaction Features: Subsequent Direct Listing

Neutral

BCI Minerals Limited - Shareholder/Analyst Call

2021-11-18 07:32:00

EGM

Neutral

BCI Minerals Limited, Special/Extraordinary Shareholders Meeting, Dec 20, 2021

2021-11-18 07:32:00

BCI Minerals Limited, Special/Extraordinary Shareholders Meeting, Dec 20, 2021, at 10:00 W. Australia Standard Time. Agenda: To consider Proposed issue of Shares to Wroxby (substantial Shareholder); to consider proposed issue of Shares to Placees; to consider Proposed issue of Shares to AustralianSuper; to consider proposed issue of SPP Shares to the Underwriter or AustralianSuper; and to consider any other matters.

Negative

BCI Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 240 million.

2021-11-18 00:00:00

BCI Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 240 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 395,348,837 Price\Range: AUD 0.43 Discount Per Security: AUD 0.00473 Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 162,790,698 Price\Range: AUD 0.43 Discount Per Security: AUD 0.01548 Transaction Features: Subsequent Direct Listing

Negative

BCI Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 20 million.

2021-11-18 00:00:00

BCI Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 20 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 46,511,628 Price\Range: AUD 0.43 Discount Per Security: AUD 0.00473

Positive

BCI Minerals Limited Announces Positive Progress Regarding the Mardie Salt & Potash Project Environmental Approval Process

2021-11-11 00:27:00

BCI Minerals Limited announced positive progress regarding the Mardie Salt & Potash Project environmental approval process. On 7 July 2021, the Western Australian (`WA') Environmental Protection Authority (`EPA') published a positive recommendation to the WA Minister for Environment, the Hon. Amber-Jade Sanderson MLA, that the proposed Mardie Project may be implemented subject to recommended conditions (Mardie Project | EPA Western Australia). During July 2021, the Office of the Appeals Convenor received three appeals against the EPA's recommendation. Following detailed investigations, the Office of the Appeals Convenor recently delivered their report to the Minister for Environment for consideration. The Minister for Environment has now determined that the EPA recommendations for the implementation of the Mardie Project were consistent with relevant guidelines and that no further assessment or reassessment is required. The Minister however varied the EPA's recommended conditions to better reflect the intended outcome of the EPA's assessment and to improve transparency and confidence in the research offset conditions. The Minister's determination on the appeals is limited to the adequacy of the EPA's report and recommended conditions and is not a final decision on the acceptability of Mardie's implementation. A final decision will only be made by the Minister following reviews by decision-making authorities defined under section 45 of the Environmental Protection Act 1986.

Neutral

BCI Minerals Limited - Shareholder/Analyst Call

2021-10-22 06:37:00

Annual General Meeting

Positive

BCI Minerals Limited(ASX:BCI) added to S&P/ASX Emerging Companies Index

2021-09-20 00:00:00

BCI Minerals Limited(ASX:BCI) added to S&P/ASX Emerging Companies Index

Positive

BCI Minerals Limited Announces Mardie Trial Pond Construction Commenced

2021-09-01 22:27:00

BCI Minerals Limited announced that its northern embankment trial is nearing completion, construction of its southern trial pond is commencing and the contract has been awarded for the main seawater pump structure. These investigative works are an essential precursor to main construction to provide confidence about key assumptions, including materials availability, construction methodology, pond wall settlement, pumping rates, pond floor water retention, and cost and schedule assumptions. Construction of the northern embankment trial is nearing completion, with only outer wall geofabric and rock-armour treatment remaining. The trial has proven the construction methodologies, demonstrated that budgeted productivity is achievable and highlighted opportunities to optimise productivity. At the southern trial pond, seawalls will be constructed on three sides with an internal levee separating the trial pond from future Pond 1. Geofabric will span the 20m width of the embankment bases to provide stability for the three-metre-high clay layer walls which will be protected from the ocean currents by rock armour. The southern trial pond will incorporate construction methodology, materials and equipment learnings from the northern embankment trial. Construction of the civil works will form part of a broader contract awarded to WBHO Infrastructure in March 2021 which includes the northern embankment trial, southern trial pond, and after full regulatory and access approvals, Pond 1 and Pond 2. A $16M contract for the main seawater pump structure has been awarded to Western Australian company Ertech's Geomarine business, which specialises in designing and constructing near shore marine infrastructure for the resources, infrastructure and defence sectors. The Ertech Group's 40-year track record in safely delivering mine-site, transport and marine infrastructure combined with their long-term commitment to developing local industry and indigenous capability were key considerations in awarding the contract. The work involves the design, procurement, construction, and commissioning of all the detailed earthworks, piling, structural steel, concrete, mechanical and electrical installations required to accommodate and operate six 3,000 litres per second pumps within the pump structure. When the Project is fully operational, the primary seawater pump station will pump 160GL of water into the evaporation ponds each year. To support these investigative early works, expansion of the 80-bed exploration camp is proceeding. Fabrication of buildings is underway, and the first units have been delivered to site with village contractor, McNally Mining and Resources, commencing excavation for utilities and building foundations. Commissioning of central facilities and the additional 120 rooms is scheduled for Fourth Quarter this year and will bring total rooms to 200. Following final regulatory approvals, the village will be further expanded to 400 beds to accommodate peak workforce during main construction. Main construction of the Project can only commence when BCI has received approval from the WA Minister for Environment as well as associated secondary approvals and when final tenure and funding have been secured. BCI anticipates all these to be in place by late 2021.

Negative

BCI Minerals Limited Appoints Stephanie Majteles as Joint Company Secretary

2021-06-30 00:50:00

BCI Minerals Limited announced the appointment of the Company's General Counsel, Stephanie Majteles as Joint Company Secretary, together with the existing Company Secretary Susan Park, effective from 1 July 2021. Ms Majteles was appointed as General Counsel of BCI in January 2019 and has 18 years' experience in the projects and resources industries, with significant experience at both a top tier law firm and in-house at a large global resources company.

Fundamental Summary

Looking at BCI's financials of Q4 reflected unimpressive, mediocre results. We do believe, though, that macro-related market conditions will influence its performance more significantly than its individual results. We therefore gave BCI a total score of 66 out of 100 and a HOLD recommendation.

BCI announced earnings results for the full year ended June 30, 2021. For the full year, the company announced total revenue was AUD 160.482 million compared to AUD 77.259 million a year ago. Net income was AUD 21.972 million compared to AUD 377,000 a year ago. Basic earnings per share from continuing operations was AUD 0.0402 compared to AUD 0.0009 a year ago. Diluted earnings per share from continuing operations was AUD 0.0401 compared to AUD 0.0009 a year ago.

Business Description

BCI engages in the exploration and development of mineral assets in Australia. The company explores for salt, iron ore, and sulphate of potash deposits. It owns a 100% interest in the Mardie Salt and Potash Project located in the West Pilbara coast. The company also owns interest in the Iron Valley mine located in the Central Pilbara. In addition, it holds a 30% interest in the Carnegie potash project consisting of one granted exploration license and two exploration license applications covering an area of approximately 1,700 square kilometers located to the north-east of Wiluna. The company was formerly known as BC Iron Limited and changed its name to BCI in December 2017. BCI was incorporated in 2006 and is based in West Perth, Australia.

Sector Overview

BCI is included in the Metals & Mining according to GICS (global industry classification standard). The Metals & Mining industry is included in the Materials sector. It includes the producers of aluminum, iron, steel, gold, other diversified metals and minerals, and their related products, as well as the mining and production the above materials. BCI's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 507.4 122.7% 73
Liabilities 65.6 19.0% 86
Price to Book 1.0 -46.6% 82
Cash & Equivalents 334.1 320.6% 67
Equity 441.8 155.9% 58
EBITDA 23.8 -17.8% 47
Total Revenues 141.3 -11.8% 94
Parameter Value Change Score
Return on Equity 5.5 -65.0% 56
Net Cashflow 255.6 574.7% 62
Capital Expenditure -53.6 -220.6% 76
Asset Turnover 0.4 -53.8% 49
Free Cashflow 0.0 106.0% 54

* All values are TTM

The below chart reflects BCI's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While BCI's peer average final assessment score stands on 69.0, BCI's score is 66.

  •  BCI
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
BHP Group Limited 208.5B 58 71 75
Hold
69
69 0 1
Fortescue Metals Group Limited 55.0B 65 67 75
Hold
68
68 1 1
Newcrest Mining Limited 19.4B 52 66 57
Underperform
56
56 2 1
South32 Limited 18.7B 84 72 78
Buy
82
82 3 1
Mineral Resources Limited 9.2B 55 63 61
Underperform
56
56 4 1
Lynas Rare Earths Limited 8.3B 70 69 70
Hold
71
71 5 1
Northern Star Resources Limited 8.2B 56 56 73
Underperform
55
55 6 1
IGO Limited 7.8B 50 78 72
Hold
71
71 7 1
BlueScope Steel Limited 7.3B 85 72 52
Hold
72
72 8 1
Pilbara Minerals Limited 6.9B 86 69 86
Buy
83
83 9 1
Allkem Limited 6.9B 57 61 82
Hold
65
65 10 1
OZ Minerals Limited 6.2B 74 66 78
Hold
74
74 11 1
Evolution Mining Limited 4.8B 82 64 50
Hold
64
64 12 1
Alumina Limited 4.4B 50 79 72
Hold
70
70 13 1
OZ Minerals Holdings Pty Ltd 4.0B 84 61 50
Hold
73
73 14 1
Iluka Resources Limited 3.9B 77 60 74
Hold
68
68 15 1
Andean Resources Ltd. 3.7B 86 97 41
Buy
84
84 16 1
Coronado Global Resources Inc. 2.9B 83 74 81
Strong Buy
87
87 17 1
Nickel Industries Limited 2.8B 54 60 70
Underperform
56
56 18 1
AVZ Minerals Limited 2.8B 95 68 58
Hold
75
75 19 1
Sims Limited 2.7B 68 69 82
Hold
74
74 20 1
Zimplats Holdings Limited 2.6B 77 68 64
Hold
71
71 21 1
Liontown Resources Limited 2.4B 81 84 62
Buy
84
84 22 1
Perseus Mining Limited 2.3B 81 65 83
Hold
77
77 23 1
Deterra Royalties Limited 2.3B 77 61 75
Hold
69
69 24 1
Sandfire Resources Limited 1.9B 82 69 76
Buy
79
79 25 1
Core Lithium Ltd 1.8B 83 70 69
Hold
76
76 26 1
Chalice Mining Limited 1.5B 54 81 55
Hold
67
67 27 1
Grange Resources Limited 1.5B 65 64 73
Hold
66
66 28 1
Capricorn Metals Ltd 1.3B 86 69 82
Buy
82
82 29 1
West African Resources Limited 1.3B 87 59 66
Hold
68
68 30 1
Silver Lake Resources Limited 1.2B 66 63 58
Hold
62
62 31 1
De Grey Mining Limited 1.2B 66 47 73
Underperform
53
53 32 1
Gold Road Resources Limited 1.2B 64 67 56
Hold
63
63 33 1
Lake Resources NL 1.2B 66 73 68
Hold
71
71 34 1
Sayona Mining Limited 1.2B 66 73 68
Hold
71
71 35 1
Regis Resources Limited 1.1B 53 53 69
Underperform
50
50 36 1
Piedmont Lithium Inc. 1.1B 88 77 60
Buy
84
84 37 1
5E Advanced Materials Inc. 927.2M 47 58 61
Underperform
51
51 38 1
ioneer Ltd 867.9M 85 69 51
Hold
70
70 39 1
Syrah Resources Limited 856.9M 49 50 69
Underperform
46
46 40 1
Equigold NL 854.0M 50 65 87
Hold
67
67 41 1
Ramelius Resources Limited 828.4M 56 68 62
Hold
60
60 42 1
Vulcan Energy Resources Limited 826.7M 67 78 71
Hold
77
77 43 1
Jervois Global Limited 813.1M 78 71 54
Hold
72
72 44 1
Mincor Resources NL 808.9M 62 77 57
Hold
67
67 45 1
Imdex Limited 796.9M 71 56 74
Hold
70
70 46 1
Bellevue Gold Limited 722.0M 84 69 54
Hold
70
70 47 1
St Barbara Limited 701.5M 53 70 56
Underperform
59
59 48 1
Emerald Resources NL 679.4M 60 68 84
Hold
70
70 49 1
Red 5 Limited 671.6M 47 75 59
Hold
61
61 50 1
Boart Longyear Group Ltd. 651.0M 60 74 68
Hold
69
69 51 1
Mount Gibson Iron Limited 629.5M 48 78 64
Hold
66
66 52 1
Westgold Resources Limited 575.3M 54 65 63
Underperform
58
58 53 1
OM Holdings Limited 563.6M 84 75 82
Buy
85
85 54 1
Australian Strategic Materials Ltd 540.9M 51 74 72
Hold
67
67 55 1
Neometals Ltd 531.9M 60 72 60
Hold
65
65 56 1
Adriatic Metals PLC 528.8M 66 73 68
Hold
71
71 57 1
Argosy Minerals Limited 467.8M 66 73 68
Hold
71
71 58 1
Perenti Global Limited 461.4M 60 78 67
Hold
72
72 59 1
Champion Iron Limited 441.1M 58 71 55
Hold
64
64 60 1
Panoramic Resources Limited 420.4M 58 71 67
Hold
66
66 61 1
Hastings Technology Metals Limited 404.8M 65 68 67
Hold
68
68 62 1
Alkane Resources Limited 402.0M 78 70 68
Hold
73
73 63 1
Centaurus Metals Limited 397.2M 66 73 68
Hold
71
71 64 1
Bowen Coking Coal Limited 385.5M 66 73 68
Hold
71
71 65 1
Jupiter Mines Limited 372.2M 66 81 50
Hold
64
64 66 1
Galan Lithium Limited 362.2M 66 73 68
Hold
71
71 67 1
Talga Group Ltd 359.9M 53 60 62
Underperform
53
53 68 1
Metals X Limited 344.8M 68 87 68
Buy
82
82 69 1
Pantoro Limited 330.8M 66 73 68
Hold
71
71 70 1
Aurelia Metals Limited 327.8M 65 58 60
Underperform
56
56 71 1
Macmahon Holdings Limited 283.7M 68 65 62
Hold
66
66 72 1
Lotus Resources Limited 277.3M 66 73 68
Hold
71
71 73 1
Firefinch Limited 236.2M 66 73 68
Hold
71
71 74 1
Andromeda Metals Limited 229.8M 66 73 68
Hold
71
71 75 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. BCI's stock is now priced below its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a negative setup in the near, medium, and long-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), BCI's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 42.

Bearish 42
Close Price 0.28
52W Low 0.26
52W High 0.59
5D MA 0.28
50D MA 0.37
200D MA 0.42
MACD -0.03
RSI 0.89
STOCH 13.64

Balance Sheet Analysis

Two main balance sheet metrics are driving the positive outlook for BCI's financial strength going forward. In terms of liabilities, BCI published good numbers. Their reported liabilities were 65.6, representing a 19.0% change from the previous report. This performance is all interesting relative to their peers and suggests that their stock price has room to grow to reflect a higher intrinsic value. The company's liabilities movement component, therefore, received a grade of 86. Also, BCI's price to book ratio (P/B) was reported as 1.0 and represents -46.6% change from the previous report. The company's book value factor metrics are even more remarkable when compared to their peers. The company's book value factors component, therefore, received a grade of 82. On the other hand, Equity, jumped out as looking problematic. BCI reported weak equity changes momentum this period. At filing, equity was reported as 441.8, representing 155.9% change from the previous report. This parameter often affects companies in the same industry and market capitalization by up to 5.9%. These metrics are all the more disappointing relative to their peers and should blunt potential positive momentum in its's stock price. Therefore, their equity movement component earned a score of 58. Therefore, we scored its balance sheet a 71.

Parameter Value Change Score
Assets 507.4 122.7% 73
Liabilities 65.6 19.0% 86
Price to Book 1.0 -46.6% 82
Cash & Equivalents 334.1 320.6% 67
Equity 441.8 155.9% 58
* All values are TTM

The below chart describes BCI's performance as reflected on its balance sheet with respect to its peers. While BCI received a balance sheet score of 71, the average of its peers stands on 68.0.

  •  BCI
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
BHP Group Limited 208.5B 74 92 47 52 76 58 0 1
Fortescue Metals Group Limited 55.0B 83 66 68 55 69 65 1 1
Newcrest Mining Limited 19.4B 85 72 46 46 73 52 2 1
South32 Limited 18.7B 74 73 80 79 74 84 3 1
Mineral Resources Limited 9.2B 83 73 52 42 90 55 4 1
Lynas Rare Earths Limited 8.3B 74 59 77 62 68 70 5 1
Northern Star Resources Limited 8.2B 87 70 56 48 65 56 6 1
IGO Limited 7.8B 43 37 80 42 63 50 7 1
BlueScope Steel Limited 7.3B 64 75 87 90 68 85 8 1
Pilbara Minerals Limited 6.9B 87 59 81 87 56 86 9 1
Allkem Limited 6.9B 53 64 44 65 89 57 10 1
OZ Minerals Limited 6.2B 87 72 72 69 72 74 11 1
Evolution Mining Limited 4.8B 47 57 76 96 54 82 12 1
Alumina Limited 4.4B 51 69 50 46 84 50 13 1
OZ Minerals Holdings Pty Ltd 4.0B 81 62 51 97 87 84 14 1
Iluka Resources Limited 3.9B 76 66 87 69 53 77 15 1
Andean Resources Ltd. 3.7B 70 37 60 97 92 86 16 1
Coronado Global Resources Inc. 2.9B 44 56 87 85 71 83 17 1
Nickel Industries Limited 2.8B 41 44 72 50 70 54 18 1
AVZ Minerals Limited 2.8B 99 56 82 98 66 95 19 1
Sims Limited 2.7B 85 72 83 49 57 68 20 1
Zimplats Holdings Limited 2.6B 80 69 68 76 73 77 21 1
Liontown Resources Limited 2.4B 43 55 82 97 37 81 22 1
Perseus Mining Limited 2.3B 81 70 73 82 66 81 23 1
Deterra Royalties Limited 2.3B 99 79 61 75 68 77 24 1
Sandfire Resources Limited 1.9B 41 64 87 87 73 82 25 1
Core Lithium Ltd 1.8B 37 55 82 94 66 83 26 1
Chalice Mining Limited 1.5B 98 78 39 46 89 54 27 1
Grange Resources Limited 1.5B 54 70 51 71 92 65 28 1
Capricorn Metals Ltd 1.3B 69 59 81 91 65 86 29 1
West African Resources Limited 1.3B 92 56 81 92 42 87 30 1
Silver Lake Resources Limited 1.2B 69 62 62 71 57 66 31 1
De Grey Mining Limited 1.2B 44 49 79 69 48 66 32 1
Gold Road Resources Limited 1.2B 83 72 56 65 60 64 33 1
Lake Resources NL 1.2B 78 74 55 64 78 66 34 1
Sayona Mining Limited 1.2B 78 74 55 64 78 66 35 1
Regis Resources Limited 1.1B 77 74 51 48 63 53 36 1
Piedmont Lithium Inc. 1.1B 97 54 82 97 39 88 37 1
5E Advanced Materials Inc. 927.2M 44 83 54 45 37 47 38 1
ioneer Ltd 867.9M 98 56 80 86 52 85 39 1
Syrah Resources Limited 856.9M 63 75 38 46 94 49 40 1
Equigold NL 854.0M 57 46 86 50 45 50 41 1
Ramelius Resources Limited 828.4M 67 41 78 48 49 56 42 1
Vulcan Energy Resources Limited 826.7M 39 53 80 74 41 67 43 1
Jervois Global Limited 813.1M 71 71 44 94 95 78 44 1
Mincor Resources NL 808.9M 83 78 43 62 56 62 45 1
Imdex Limited 796.9M 59 69 83 61 75 71 46 1
Bellevue Gold Limited 722.0M 96 56 81 87 42 84 47 1
St Barbara Limited 701.5M 80 69 51 49 61 53 48 1
Emerald Resources NL 679.4M 51 58 80 51 57 60 49 1
Red 5 Limited 671.6M 49 45 39 55 96 47 50 1
Boart Longyear Group Ltd. 651.0M 85 79 39 60 87 60 51 1
Mount Gibson Iron Limited 629.5M 94 76 39 41 74 48 52 1
Westgold Resources Limited 575.3M 77 65 55 47 73 54 53 1
OM Holdings Limited 563.6M 84 69 84 81 50 84 54 1
Australian Strategic Materials Ltd 540.9M 44 69 55 46 84 51 55 1
Neometals Ltd 531.9M 97 77 46 50 97 60 56 1
Adriatic Metals PLC 528.8M 78 74 55 64 78 66 57 1
Argosy Minerals Limited 467.8M 78 74 55 64 78 66 58 1
Perenti Global Limited 461.4M 68 71 51 61 74 60 59 1
Champion Iron Limited 441.1M 66 49 73 47 67 58 60 1
Panoramic Resources Limited 420.4M 78 75 43 58 85 58 61 1
Hastings Technology Metals Limited 404.8M 75 72 56 67 67 65 62 1
Alkane Resources Limited 402.0M 45 56 83 88 40 78 63 1
Centaurus Metals Limited 397.2M 78 74 55 64 78 66 64 1
Bowen Coking Coal Limited 385.5M 78 74 55 64 78 66 65 1
Jupiter Mines Limited 372.2M 63 93 46 52 80 66 66 1
Galan Lithium Limited 362.2M 78 74 55 64 78 66 67 1
Talga Group Ltd 359.9M 90 78 38 45 95 53 68 1
Metals X Limited 344.8M 90 77 50 67 80 68 69 1
Pantoro Limited 330.8M 78 74 55 64 78 66 70 1
Aurelia Metals Limited 327.8M 85 69 59 60 72 65 71 1
Macmahon Holdings Limited 283.7M 47 61 72 78 44 68 72 1
Lotus Resources Limited 277.3M 78 74 55 64 78 66 73 1
Firefinch Limited 236.2M 78 74 55 64 78 66 74 1
Andromeda Metals Limited 229.8M 78 74 55 64 78 66 75 1

Income Statement Analysis

BCI appears likely to maintain its strong income statement metrics and momentum going forward. BCI's financials reveal an interesting trend for their revenue efficiency. This parameter often affects companies in the same industry and market capitalization by up to 24.0%. Their impressive revenue efficiency is even more impressive relative to its peers and competitors in the current market. The company's revenue efficiency, therefore, received a grade of 94. Also, Return factors metrics and ratios were exceptional in this report. BCI reported a return on equity (ROE) ratio of 5.5, representing a change of -65.0% from the last report. The company appears headed in the right direction in terms of these return factors, exhibiting prudent capital expenditure growth compared to its peers. Therefore, its return factors component earned a score of 56. However, one discouraging result, EBITDA, stood out. BCI's EBIDTA now sits at 23.8 and represents -17.8% change from the last reporting period. This metric might have a 20.0 percent impact on companies in the same industry and with the same market capitalization. BCI appears to be headed in the wrong direction in terms of EBITDA momentum, likely due to insufficient capital controls and a weaker than expected overall financial performance. Therefore, their EBITDA component earned a score of 47. Its income statement, therefore, earned a score of 68.

Parameter Value Change Score
EBITDA 23.8 -17.8% 47
Total Revenues 141.3 -11.8% 94
Return on Equity 5.5 -65.0% 56
* All values are TTM

The below chart describes BCI's performance as reflected on its income statement with respect to its peers. While BCI received a income statement score of 68 , the average of its peers stands on 71.0.

  •  BCI
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
BHP Group Limited 208.5B 64 79 79 71 0 1
Fortescue Metals Group Limited 55.0B 58 78 75 67 1 1
Newcrest Mining Limited 19.4B 95 45 48 66 2 1
South32 Limited 18.7B 47 94 95 72 3 1
Mineral Resources Limited 9.2B 94 42 44 63 4 1
Lynas Rare Earths Limited 8.3B 50 91 83 69 5 1
Northern Star Resources Limited 8.2B 48 66 68 56 6 1
IGO Limited 7.8B 98 72 48 78 7 1
BlueScope Steel Limited 7.3B 86 71 66 72 8 1
Pilbara Minerals Limited 6.9B 38 96 96 69 9 1
Allkem Limited 6.9B 46 75 74 61 10 1
OZ Minerals Limited 6.2B 48 82 82 66 11 1
Evolution Mining Limited 4.8B 94 46 43 64 12 1
Alumina Limited 4.4B 87 73 76 79 13 1
OZ Minerals Holdings Pty Ltd 4.0B 39 88 45 61 14 1
Iluka Resources Limited 3.9B 50 62 89 60 15 1
Andean Resources Ltd. 3.7B 37 89 91 97 16 1
Coronado Global Resources Inc. 2.9B 39 98 97 74 17 1
Nickel Industries Limited 2.8B 66 61 55 60 18 1
AVZ Minerals Limited 2.8B 87 63 41 68 19 1
Sims Limited 2.7B 45 90 92 69 20 1
Zimplats Holdings Limited 2.6B 94 50 52 68 21 1
Liontown Resources Limited 2.4B 87 78 91 84 22 1
Perseus Mining Limited 2.3B 42 88 83 65 23 1
Deterra Royalties Limited 2.3B 45 83 66 61 24 1
Sandfire Resources Limited 1.9B 64 73 74 69 25 1
Core Lithium Ltd 1.8B 87 47 81 70 26 1
Chalice Mining Limited 1.5B 99 65 76 81 27 1
Grange Resources Limited 1.5B 74 61 61 64 28 1
Capricorn Metals Ltd 1.3B 37 98 97 69 29 1
West African Resources Limited 1.3B 43 84 63 59 30 1
Silver Lake Resources Limited 1.2B 95 42 41 63 31 1
De Grey Mining Limited 1.2B 44 45 76 47 32 1
Gold Road Resources Limited 1.2B 94 48 49 67 33 1
Lake Resources NL 1.2B 87 62 66 73 34 1
Sayona Mining Limited 1.2B 87 62 66 73 35 1
Regis Resources Limited 1.1B 65 50 45 53 36 1
Piedmont Lithium Inc. 1.1B 87 63 68 77 37 1
5E Advanced Materials Inc. 927.2M 74 37 56 58 38 1
ioneer Ltd 867.9M 87 55 60 69 39 1
Syrah Resources Limited 856.9M 38 67 62 50 40 1
Equigold NL 854.0M 79 44 91 65 41 1
Ramelius Resources Limited 828.4M 94 51 48 68 42 1
Vulcan Energy Resources Limited 826.7M 87 67 84 78 43 1
Jervois Global Limited 813.1M 37 94 93 71 44 1
Mincor Resources NL 808.9M 98 57 59 77 45 1
Imdex Limited 796.9M 77 60 56 56 46 1
Bellevue Gold Limited 722.0M 87 44 83 69 47 1
St Barbara Limited 701.5M 93 56 53 70 48 1
Emerald Resources NL 679.4M 37 96 94 68 49 1
Red 5 Limited 671.6M 95 58 66 75 50 1
Boart Longyear Group Ltd. 651.0M 93 58 67 74 51 1
Mount Gibson Iron Limited 629.5M 99 62 66 78 52 1
Westgold Resources Limited 575.3M 84 58 43 65 53 1
OM Holdings Limited 563.6M 50 96 97 75 54 1
Australian Strategic Materials Ltd 540.9M 91 62 66 74 55 1
Neometals Ltd 531.9M 87 66 56 72 56 1
Adriatic Metals PLC 528.8M 87 62 66 73 57 1
Argosy Minerals Limited 467.8M 87 62 66 73 58 1
Perenti Global Limited 461.4M 73 81 87 78 59 1
Champion Iron Limited 441.1M 95 50 45 71 60 1
Panoramic Resources Limited 420.4M 95 50 62 71 61 1
Hastings Technology Metals Limited 404.8M 90 51 53 68 62 1
Alkane Resources Limited 402.0M 68 74 74 70 63 1
Centaurus Metals Limited 397.2M 87 62 66 73 64 1
Bowen Coking Coal Limited 385.5M 87 62 66 73 65 1
Jupiter Mines Limited 372.2M 96 46 50 81 66 1
Galan Lithium Limited 362.2M 87 62 66 73 67 1
Talga Group Ltd 359.9M 87 40 47 60 68 1
Metals X Limited 344.8M 94 84 79 87 69 1
Pantoro Limited 330.8M 87 62 66 73 70 1
Aurelia Metals Limited 327.8M 68 58 49 58 71 1
Macmahon Holdings Limited 283.7M 88 51 48 65 72 1
Lotus Resources Limited 277.3M 87 62 66 73 73 1
Firefinch Limited 236.2M 87 62 66 73 74 1
Andromeda Metals Limited 229.8M 87 62 66 73 75 1

Cash Flow Analysis

BCI appears likely to maintain its strong cash flow metrics and momentum going forward. BCI's management did a great job this period managing its capital expenditure (CapEx). In terms of the raw numbers, CapEx was reported as -53.6, which represents a -220.6% change from the last period. This remarkable CapEx growth is expected to reinforce upward momentum for its's stock price going forward. Therefore, its CapEx movement component earned a score of 76. Also, BCI presents exciting net cash flow numbers for its recent financial release, illustrated by a net cash flow of 255.6, which is a change of 574.7% from the last filing. The company is headed in the right direction regarding business priorities, exhibiting prudent net cash flow management and growth. Hence, its net cash flow earned a score of 62. That said, one metric, Asset Turnover, stood out as strongly negative. BCI's asset turnover metrics were concerning and highlighted potential issues management is having effectively turning assets into sales efficiently. At filing, their asset turnover metrics were 0.4, representing a -53.8% change from the previous period. Companies in the same sector and market capitalization will usually be affected by up to 2.7 percent by this parameter. Their asset turnover numbers are significantly less impressive when compared to their peers and competitors. Underwhelming results in asset turnover metrics often lead to negative pressure in stock prices, so we rated its asset turnover momentum 49. Because their management is doing an excellent job managing these critical metrics, the cash_flow was given a score of 60.

Parameter Value Change Score
Net Cashflow 255.6 574.7% 62
Capital Expenditure -53.6 -220.6% 76
Asset Turnover 0.4 -53.8% 49
Free Cashflow 0.0 106.0% 54
* All values are TTM

The below chart describes BCI's performance as reflected on its cash flow with respect to its peers. While BCI received a cash flow score of 60, the average of its peers stands on 70.0.

  •  BCI
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
BHP Group Limited 208.5B 70 77 80 71 75 0 1
Fortescue Metals Group Limited 55.0B 74 78 69 74 75 1 1
Newcrest Mining Limited 19.4B 58 48 63 55 57 2 1
South32 Limited 18.7B 72 86 82 75 78 3 1
Mineral Resources Limited 9.2B 58 69 54 63 61 4 1
Lynas Rare Earths Limited 8.3B 78 63 76 58 70 5 1
Northern Star Resources Limited 8.2B 70 58 54 91 73 6 1
IGO Limited 7.8B 80 73 66 57 72 7 1
BlueScope Steel Limited 7.3B 48 47 56 70 52 8 1
Pilbara Minerals Limited 6.9B 87 97 76 78 86 9 1
Allkem Limited 6.9B 75 77 70 84 82 10 1
OZ Minerals Limited 6.2B 69 97 66 73 78 11 1
Evolution Mining Limited 4.8B 54 49 61 39 50 12 1
Alumina Limited 4.4B 68 74 76 70 72 13 1
OZ Minerals Holdings Pty Ltd 4.0B 49 86 84 39 50 14 1
Iluka Resources Limited 3.9B 75 84 52 74 74 15 1
Andean Resources Ltd. 3.7B 40 55 56 37 41 16 1
Coronado Global Resources Inc. 2.9B 77 86 53 93 81 17 1
Nickel Industries Limited 2.8B 75 63 76 61 70 18 1
AVZ Minerals Limited 2.8B 60 69 76 37 58 19 1
Sims Limited 2.7B 83 98 56 82 82 20 1
Zimplats Holdings Limited 2.6B 75 77 63 44 64 21 1
Liontown Resources Limited 2.4B 59 69 76 51 62 22 1
Perseus Mining Limited 2.3B 69 94 90 83 83 23 1
Deterra Royalties Limited 2.3B 77 88 96 51 75 24 1
Sandfire Resources Limited 1.9B 73 85 63 71 76 25 1
Core Lithium Ltd 1.8B 61 69 76 72 69 26 1
Chalice Mining Limited 1.5B 53 62 84 38 55 27 1
Grange Resources Limited 1.5B 75 79 76 62 73 28 1
Capricorn Metals Ltd 1.3B 81 83 81 79 82 29 1
West African Resources Limited 1.3B 73 84 42 58 66 30 1
Silver Lake Resources Limited 1.2B 63 53 64 47 58 31 1
De Grey Mining Limited 1.2B 80 69 76 61 73 32 1
Gold Road Resources Limited 1.2B 57 57 54 50 56 33 1
Lake Resources NL 1.2B 68 69 76 60 68 34 1
Sayona Mining Limited 1.2B 68 69 76 60 68 35 1
Regis Resources Limited 1.1B 65 76 68 69 69 36 1
Piedmont Lithium Inc. 1.1B 59 62 69 54 60 37 1
5E Advanced Materials Inc. 927.2M 55 48 71 71 61 38 1
ioneer Ltd 867.9M 47 57 54 51 51 39 1
Syrah Resources Limited 856.9M 59 58 43 98 69 40 1
Equigold NL 854.0M 91 69 72 84 87 41 1
Ramelius Resources Limited 828.4M 59 56 81 58 62 42 1
Vulcan Energy Resources Limited 826.7M 67 69 76 69 71 43 1
Jervois Global Limited 813.1M 43 51 38 82 54 44 1
Mincor Resources NL 808.9M 63 63 72 45 57 45 1
Imdex Limited 796.9M 71 72 79 73 74 46 1
Bellevue Gold Limited 722.0M 51 64 56 51 54 47 1
St Barbara Limited 701.5M 54 46 71 55 56 48 1
Emerald Resources NL 679.4M 84 81 80 81 84 49 1
Red 5 Limited 671.6M 68 49 48 59 59 50 1
Boart Longyear Group Ltd. 651.0M 62 74 81 63 68 51 1
Mount Gibson Iron Limited 629.5M 68 69 59 56 64 52 1
Westgold Resources Limited 575.3M 59 69 71 59 63 53 1
OM Holdings Limited 563.6M 75 90 90 75 82 54 1
Australian Strategic Materials Ltd 540.9M 72 69 76 69 72 55 1
Neometals Ltd 531.9M 62 54 71 52 60 56 1
Adriatic Metals PLC 528.8M 68 69 76 60 68 57 1
Argosy Minerals Limited 467.8M 68 69 76 60 68 58 1
Perenti Global Limited 461.4M 61 69 54 78 67 59 1
Champion Iron Limited 441.1M 56 69 51 49 55 60 1
Panoramic Resources Limited 420.4M 69 69 79 54 67 61 1
Hastings Technology Metals Limited 404.8M 65 68 74 57 67 62 1
Alkane Resources Limited 402.0M 69 58 68 71 68 63 1
Centaurus Metals Limited 397.2M 68 69 76 60 68 64 1
Bowen Coking Coal Limited 385.5M 68 69 76 60 68 65 1
Jupiter Mines Limited 372.2M 51 51 84 44 50 66 1
Galan Lithium Limited 362.2M 68 69 76 60 68 67 1
Talga Group Ltd 359.9M 53 48 76 70 62 68 1
Metals X Limited 344.8M 70 81 72 55 68 69 1
Pantoro Limited 330.8M 68 69 76 60 68 70 1
Aurelia Metals Limited 327.8M 72 58 54 49 60 71 1
Macmahon Holdings Limited 283.7M 72 53 46 57 62 72 1
Lotus Resources Limited 277.3M 68 69 76 60 68 73 1
Firefinch Limited 236.2M 68 69 76 60 68 74 1
Andromeda Metals Limited 229.8M 68 69 76 60 68 75 1

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