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0.92%

54.0¢ boart longyear group ltd

Ann: 2018 Full Year Results Presentation, page-12

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Avalonbeach

208 Posts.

4

04/03/19

10:40

Post #: 37640906
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Originally posted by Bullspike: ↑

I get your rationale, I hope you're right. Naturally I'm pessimistic because my position is too big on this dog. The company was fairly positive throughout all of 2018 and because of that and the revenue improvement over the same period, I expected a better FY. They are also sneaky a lot of the time by reporting 'net debt' instead of total debt. I feel their debt is increasing at a rate which is not mitigated enough by increased revenue. As people have posted before, they are probably one or two bad quarters from administration.

I also feel that as Boart's solvency risk increases, it could lead to less drilling contracts as customers might prefer a drilling company in a healthier position. I have no evidence for this, just speculation.

More objectively, I think the market thought it was slightly positive with 36M shares traded, a lot at 0.05. Hopefully it continues. However, our good old big seller will probably keep offers loaded at 0.05.

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Looking at the share price today I have to agree with you. This company is being deliberately steered into the ground IMO. It's a toss up for me whether to sell up now at a huge loss or wait for the SP to go into total oblivion and use it as a tax write-off

BLY Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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