BC Benguet Corporation

Benguet Corporation
as of Apr.24, 2012


Current Affairs


If MARC benefits from all these Nickel issues, I do not see (so far) reasons why BC Benguet corporation will not benefit the same.


On August 8, 2011, BNMI entered into a five-year Marketing Agreement with its Parent Company
as the exclusive marketing agent for its nickel ore production. Through this arrangement, BNMI
signed an agreement for a three-year off-take contract with Bright Mining & Resource Company
Ltd., a major Chinese trading company on August 24, 2011, for the sale and delivery of 1.8 million
metric tons of nickel ore grading at least 1.8% and with Minecore Resources Inc., a subsidiary of
Dunfeng Holding, Inc. of China on October 5, 2011, for 1.8 million metric tons of nickel ore grading
1.8% and above and 200,000 metric tons of 1.6% nickel.


Source:Annual Report
Not only in Nickel, BC is also in GOLD!


Hence, I switched my curiosity to HD mode to check for more info of BC.


My favorite approach, Speculation


Stockholders:
5.House of Investment (investor as well in my PERC)
11.Henry Sy
13.Henry Sy Sr.
SY, could just be lurking await for a future take over?


Management
President Benjamin Philip G. ROmualdez
Currently Pres. CHamber of Mines of the Philippines


Fundamentals


Earnings:
1.4B 2011 EPS 8.50php/share
2.8B 2010 EPS 15.4php/share (assuming no increase of outstanding shares)
2009 EPS 1.23php/share


Excerpted from www.journal.com.ph news:
To date, the Company successfully retired 83% of its debt obligations and will continue to move towards full settlemenl in 2012.


Basically, as announced by BC President "ongoing settlement of old debt and Company’s efforts in
restructuring its balance sheet has put it back to a positive retained- earnings position.


Once positive would mean dividends and inviting more investors.


Outstanding shares is just 102Million
Mar Cap. 2.5Billion


History


BC operated DCO Dizon-Copper Mining before. And look how much it is now, DIZ at 3.5B while BC at 2.5B
makes my eyebrows cross.


Future
The Company’s vision is to regain its position as the premier mining company – all in the service of its
employees, shareholders, host communities, the environment, and the country. - very bold


Technical side, please see BC chart.
5 months sideways


Conclusion:
Looks like to me a come from behind imminent victory. May imitate the path of PX. Business is on the go, aiming for positive retained earnings.Gold and Nickel products are so timely..