I dont think there is anything surprising in the profit result....

I dont think there is anything surprising in the profit result. Don't forget that the financial report is a view of the company 6 months ago and it's business is only now starting to recover slowly from a very low bottom in late 2009. I suspect it is only this time next year that we will start to see any significant improvement in the financial reports.

The share price is a reflection of there being too many shares issued during the capital raising and a large number of shareholders wanting to offload...while at the same time the market generally took a dive and buyers moved away from small caps and looked for safer blue chips. This is fairly obvious given there is currently 5 times as many sellers as buyers for BOL shares. You would expect the price to recover slowly once the excess shares have been sold to longer term holders and when the market stabilises enough for buyers to start looking for opportunities outside the ASX200.

If McAleese is serious about a takeover, they will probably never get another opportunity to take advantage of the company in such a weak position. CXG was in a similar position to BOL and yesterday Elph came up with a bid to take control at a bargin price. If McAleese is smart they will be thinking the same thing.

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I am not an advisor. These are comments intended for debate only.