Yep this is a dog. This must be one of the riskiest plays on the...

Yep this is a dog. This must be one of the riskiest plays on the market now, we are awaiting a comeback to sustainability plus we have dilution of a whopping 26B shares. Many novices will the price and be tempted and be completely oblivious to the seriousness of the situation.

There is a positive side however:
- Commodities prices are up
- Revenues are increasing over the FY
- Business is transforming to a drilling products supplier and data analytics such as Tru-Scan. This fact is probably underestimated by many assuming it's the same old BLY. I expect the ratio of products revenues to drilling revenues to increase over time.
- I got in at 1.3c and I still think it's worth a punt now for 2 - 4c. The AGM is coming up and I hope for news of continuing improvement in the drilling industry.

The DJ-UBS commodity index is primed for a breakout. This is my favourite pattern (weekly chart):




Another interesting article yesterday: https://www.aggman.com/boart-longyear-moves-headquarters/

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