BC Iron jumps on Q3 output results

Company News

Shares in BC Iron Limited (ASX:BCI) have jumped more than 30 per cent following the release of its third quarter activities report and after the price of iron ore gained overnight. 
 
The iron ore producer reports output at its Nullagine Joint Venture (NJV) with Fortescue Metals Group Limited (ASX:FMG) rose 68 per cent to 1.77 million wet tonnes of ore. 
 
Managing Director Morgan Ball has advised costs are continuing to improve through the contracting strategy and mine plan optimisations BC Iron is implementing. 
 
Mr Ball says the company is very cognisant of the external environment and will continue to make appropriate and pragmatic decisions. 
 
BC Iron reported a net loss of $96.31 million in the first half of the 2015 financial year.