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BCI Minerals Ltd (BCI)

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    BCI Minerals Ltd (BCI)

    BCI Minerals is 61% complete on its massive -worlds largest Mardie Solar Salt & Potash Project including the construction of new roads, Jetty and Port at Cape Preston West. The new Port will be used to Ship the Salt and Potash products as well as provide general shipping services to others . First shipments Dec 2026. Salt is used in paint manufacture and a variety of industrial products, Kerry Stokes is a major shareholder. The share price has begun to rise. I would appreciate your thoughts. Is this a good entry point?

    Answer

    Hi Richard,

    It’s been over 18-months since we’ve been asked about this $920mn company which as you say is focused and well progressed on developing its Mardie Salt & Potash Project.  The company did an investor roadshow last month which was interesting while carrying the expected degree of optimism:

    • Construction is progressing on schedule with the port over 79% complete.
    • Analysts project annual revenue to increase from approximately $53mn in FY2025 to $295mn by FY2027.
    • The company believes it will be free cash flow positive by 2028 and have secured 62% offtake volume for the first 3-years.

    We like BCI and especially its estimated 60-year annuity style flow of earnings. It’s still early days but it looks to us like the “smart money” is getting set as the stock tests above 30c. For patient investors this looks like a good one for the bottom draw.

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    BCI Minerals Ltd (BCI)
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