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newB

3,534 Posts.

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23/10/17

12:51

Post #: 28114212
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Originally posted by stoeger ↑

newB, good luck.

My prophecy for this sick behemoth is just more of the same:

1. complete the last ever refinancing plan we will ever need (LOL).
2. finance the mobilisation of equipment to the field (since we have pillaged all our spare parts and cannibalised other rigs when we had to).
3. waste money to invent a new type of circle that has a special safety feature that will slow production down. We'll get our drillers to use it, but can't understand why our competitors won't buy it.
4. waste money on new disruptive drilling technology that 95% of the market won't use (yet).
5. Keep telling the market that we're the oldest, largest, safest and most technology advanced drilling company in the world........................yet don't let it be discussed that we paid for most of the drilling we were contracted to do with debt for the last 7 years! (what a model!!!!!)
6. Layoff all the smart drillers because they weren't "company orientated". Now with the barrier of entry into the industry being so small (drill rig purchase and set up), these same individuals can now compete against us! Ops, those rigs we quietly auctioned of to get some cash in over the last 3 years, who did we sell them too again?
7. etc. etc.

These guys operate two years behind the cycle. The mining and metals industry is recovering, but there is good money to be made with much better companies why come in now..........there's plenty of time.

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agreed all your points above, BLY deserve the punishment and that's why the sp dropped so badly.
The only reason I am buying is: with lowered debt and risk of bankruptcy, current sp of 1.4 -1.5 cents present some turnaround potential here, whilst other good drilling operators such as ASL (with already high sp)doesn't.

BLY Price at posting: 1.3¢ Sentiment: None Disclosure: Held
4 Upvote

0 Great analysis

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should be a good trade, page-15

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