Agreed, its turning around and looking good. The underlying business produced an EBIT of 15m for the quarter... assuming they can sustain those financials for 4 quarters, that's a 60m EBIT... which puts the PE at a factor of 5 based on a MC of 300m which is really low...
BLY is cheap at these levels, so I bought in a 1.2c today. I suspect about 2c is where fair value is on the assumption they can sustain earnings... money is flooding back to the mining industry as prices rise, so drilling becomes more affordable as budgets increase...
I suspect BLY will turn around now in SP and performance...
just my thoughts.
boy.
Agreed, its turning around and looking good. The underlying...
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