As of 11:01 AM 05/22/13 All times are local (Market data is delayed by at least 15 minutes).


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BC%20Iron%20Limited%20%28ASX%3ABCI%29%20signed%20an%20agreement%20to%20acquire%20additional%2025%25%20interest%20in%20the%20Nullagine%20Iron%20Ore%20JV%20from%20Fortescue%20Metals%20Group%20Limited%20for%20AUD%20190%20million%20on%20December%2010%2C%202012.%20The%20total%20consideration%20payable%20by%20BC%20Iron%20to%20Fortescue%20has%20been%20agreed%20at%20AUD%20190%20million%2C%20plus%20a%20price%20participation%20arrangement%20payable%20to%20Fortescue%20in%20certain%20iron%20price%20conditions.%20BC%20Iron%20will%20increase%20its%20participating%20interest%20in%20the%20NJV%20from%2050%25%20to%2075%25.%20The%20total%20consideration%2C%20plus%20associated%20transaction%20costs%2C%20will%20be%20funded%20using%20a%20combination%20of%20existing%20cash%2C%20a%20new%20%24130%20million%20%28AUD%20123.98%20million%29%20debt%20facility%2C%20and%20approximately%20AUD%2044-48%20million%20in%20equity%20through%20an%20underwritten%20placement.%20BC%20Iron%u2019s%20wholly%20owned%20subsidiary%2C%20BC%20Iron%20Nullagine%20Pty%20Ltd%20has%20entered%20into%20a%20%24130%20million%20%28AUD%20123.98%20million%29%2C%20amortizing%20term%20loan%20facility%20with%20a%20consortium%20comprising%20Commonwealth%20Bank%20of%20Australia%20and%20Australia%20and%20New%20Zealand%20Banking%20Group.%20Any%20remaining%20consideration%20payable%20to%20Fortescue%20over%20and%20above%20the%20proceeds%20received%20from%20the%20placement%20and%20debt%20facility%20will%20be%20met%20from%20existing%20cash%20reserves.%0D%0A%0D%0ACompletion%20of%20the%20acquisition%20is%20conditional%20of%20BC%20Iron%20receiving%20funding%20from%20the%20placement%20and%20draw-down%20of%20the%20bank%20facility.%20If%20this%20does%20not%20occur%2C%20completion%20of%20the%20acquisition%20may%20be%20deferred%20or%20cancelled.%20Completion%20of%20the%20transaction%20is%20only%20subject%20to%20the%20payment%20of%20consideration%20by%20BC%20Iron%20to%20Fortescue%20once%20the%20placement%20and%20debt%20Facility%20drawdown%20are%20complete.%20As%20of%20December%2011%2C%202012%2C%20BC%20Iron%20successfully%20completed%20the%20institutional%20placement.%20Transaction%20is%20expected%20to%20be%20completed%20on%20or%20before%20December%2024%2C%202012.%20The%20transaction%20is%20expected%20to%20be%20materially%20accretive%20to%20BC%20Iron%20in%20terms%20of%20earnings%2C%20cash%20flow%20and%20value%20per%20share.%20Geoff%20Rasmussen%2C%20Simon%20Price%2C%20Matthew%20Weaver%2C%20Brad%20Milne%2C%20Ross%20Corbitt%20and%20Timothy%20Cooper%20of%20Azure%20Capital%20Limited%20acted%20as%20financial%20advisor%20to%20BC%20Iron%20in%20relation%20to%20all%20elements%20of%20the%20transaction%20with%20Fortescue%20and%20its%20financing%2C%20KPMG%20Australia%20acted%20as%20accountant%2C%20Johnson%20Winter%20Slattery%20and%20Herbert%20Smith%20Freehills%20acted%20as%20legal%20advisors%20to%20BC%20Iron%20in%20relation%20to%20transaction%20and%20equity%20raising%20and%20Ashurst%20in%20relation%20to%20the%20debt%20facility.%20Macquarie%20Capital%20%28Australia%29%20Limited%20is%20acting%20as%20sole%20lead%20manager%2C%20underwriter%20and%20bookrunner%20to%20the%20placement.%20David%20Tasker%20and%20James%20Harris%20of%20Professional%20Public%20Relations%20acted%20as%20PR%20advisors%20to%20BC%20Iron.%20The%20conversions%20have%20been%20taken%20from%20www.oanda.com%20as%20on%20December%2010%2C%202012.
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Date Range for Stats (05/22/2013 to 05/22/2013)
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