BOL 0.00% 14.0¢ boom logistics limited

Mate this still has a while to play out. $5.7m in assets held...

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    Mate this still has a while to play out.

    $5.7m in assets held for sale. If they get them away in 2H17 BOL is looking at $43m debt with 2016 EBITDA of $10m. Still too much debt and appears to be:

    * running out of options with asset sales

    * little cash from trading left for debt reduction after net interest costs

    * holding off capex which will need to reverse at some time in the future.

    Don't put too much faith in the NTA figures - they keep getting hit with asset write-downs and impairments every time an asset gets reclassified as held for sale.
 
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