A video presentation of the BCI development is now available on this website. The video outlines how the scheme will integrate with existing infrastructure, how the water swap will take place and how the Ashburton Community Water trust canal can form stage two for BCI. Go to the background page.
BCI is encouraging shareholders to engage with their bank managers to be in a position to support the final prospectus likely to be released in April. Pricing indications are available but final costings will be available at the conclusion of the feasibility study.
BCI released a prospectus to those farmers who could be serviced by the Acton stock water main on Friday 30 January. The share issue closed today with applications for 1.6 cumecs of water or $540,000. Work has commenced on the feasibility of delivering water to those new shareholders.
The BCI share issue closed 5.00pm 25 November. Applications received were over $1m above the maximum of $2.67m. The BCI board has allocated the shares and notified applicants of their allocation.
Last week the Environment Court released the Declaratory Judgment supporting the use of the RDR for distribution of BCI water and the water swap process. This outcome was essential for the project to move forward and was seen as very positive step.