Ann: First Quarter 2018 Results, page-18

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JTorres

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04/05/18

17:16

Post #: 32894068
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Originally posted by Bullspike ↑

Well, this is what's happening:

Price has been held down by sellers; has to be the creditors. Using amibroker I've totalled the volume traded since end of Sep 2017 after the re-cap was implemented (I think it was earlier in Sep so I'm being conservative).

ASX vol = 2.15B shares.
If we assume Chi-X is half that; 1.2B. Again this is conservative, Chi-X often has higher volume than ASX for BLY lately.
Total = 3.35B or thereabouts offloaded by creditors.

Now is the time to buy BLY if you're hunting 3 - 4c:
1) I think creditors will starting backing off soon with the improved FA. Plus, they're holding 3.35B less shares than before.
2) Improving commodities conditions
3) What many may not realise is their objective of being a drilling products supplier, more so than just drilling. Q1 products revenue grew 18%, very significant.

The more exploration by all companies, regardless of drilling contractor, will benefit BLY if they buy BLY drill bits and parts. Someone once posted that they're 'selling themselves to the competition', but this could be the plan all along. Products revenue will increase substantially with more exploration globally.

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Time to ride this wave...

* fundamental's impressive to say the least...
* undervalued stock, which i believe can go back to 10 - 20 cents @ 2017 level...
.
.

BLY Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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Ann: First Quarter 2018 Results, page-18

Top Stories

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Banshee's historic trenches prove rich in antimony and gold for GDM

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

HotCopper Highlights: Your most watched stocks for Week 46, 2024

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

Cyclone signs MOU with Vale for development of Iron Bear play

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing