Boart Longyear

[Dr_Who]

Anyone have a valuation or view on this company?

BLY is a engineering and drilling firm for the miners. One would assume they would benefit from the high commodity prices. There will be some short term price pressure from a huge capital raising.

Picked up some shares at 29 cents.

[whatsup]

Have a look at the chart on the asx over the last 5 years, floated by a equity fund tittut tut some 2-3 years ago at $2.7 approx, peaked, got into trouble re prime loan etc dropped to .08 and has risen to .43 now needs cash tuttut tut to shore up its balance sheets!!! bach post rights price, imho isnt out of the woods yet.

[mark100]

I've taken a punt at these levels

[Dr_Who]

Have a look at the chart on the asx over the last 5 years, floated by a equity fund tittut tut some 2-3 years ago at $2.7 approx, peaked, got into trouble re prime loan etc dropped to .08 and has risen to .43 now needs cash tuttut tut to shore up its balance sheets!!! bach post rights price, imho isnt out of the woods yet.

Thats why I am buying it now at 29 cents and not at $2.70 2 years back. :)

[Dr_Who]

I bought some more BLY yesterday.

Resources going through the roof. This can only be positive for BLY in the future. When commodities are high mining firms will start to explore and drill again.

[AMR]

I too am in BLY for both technical and fundamental reasons.

1. Uptrend (ok, maybe a bit far above the trendlines at the moment). OBV going nowhere though :(

2. The smart and big money is comfortable underwriting at 27c.

[Dr_Who]

If I was the Chinese I would buy this pup out also. BLY with their global drilling expertise will compliment the Chinese global mining ownership.

[COLIN]

Should resume its upward path now that the rights issue is out of the way.

[COLIN]

Im Keen to Buy some as well, as close to 26.5c as I can get.

AA
Doubt if it will slip back to that level, AA - better try and grab it at 27.5 if you can.

[Dr_Who]

Should resume its upward path now that the rights issue is out of the way.

Not yet. The last day for retail entitlement is 14 Sept. Also they are voting for further placement and spp late this month. I would assume the instos will want to sell down and participate in the placement. There are very firm support at 27 cents.

Any weakness in the sp is an opportunity for me to accumulate more shareholding. :)

[COLIN]

Not yet. The last day for retail entitlement is 14 Sept. Also they are voting for further placement and spp late this month. I would assume the instos will want to sell down and participate in the placement. There are very firm support at 27 cents.

Any weakness in the sp is an opportunity for me to accumulate more shareholding. :)

Well, all the official documentation I received said quite clearly that the Retail Entitlement Offer closed at 5 p.m. yesterday (8 September). Where did you get "14 September" from?

[Dr_Who]

Retail settlement date is 14 sept.

Age does that to ones eye sight. Well, age and naughty pictures...lol

I recall those that participated in the insto book build got massive scaling. So this is an opportunity to pick them up at these prices.

[snowball]

I paid my money yesterday as the BLY entitlement and acceptance form (as does the timetable in the Retail Entitlement Offer booklet - page 15) clearly states the REO closes at 5pm 8 Septmeber - yesterday.

That is the last date you can pay over the money. There is also an ability to apply for additional shares in excess of your 1:1 entitlement at the same time (which I did).

The 14 September date is specified as the settlement date for the REO, however this is when BLY settle the offer internally, not when it closes. Thus I suspect the terminology may have caused some confusion.

I assume 214 September is the date by when they determine the basis on which they will allocate additional shares have been subscribed for (and determine the scaleback etc.).

The documentation also indicates the shares will be allotted on 15 September.

Having cleared my eyes first, from the documentation it would seem correct that the Retail Settlement Date is 14 September but if you haven't paid by now (i.e. by 5pm yesterday) you won't be participating in the REO settlement as it has now closed.

If you're subscribing, hope you're in already Doc...

[Balance]

I would not get too excited about this puppy, guys.

Isn't this the company which was floated to the market for a huge profit by Macquarie? Bought for US$545m in 2005 and sold to the market for A$2.35b (US$1.96b)in 2007.

The market bought a dog and it's no wonder the company is buggered.

[Dr_Who]

Looks like the instos are playing silly buggers with the sp.

Read the SSH and noticed the insto have been reducing and adding their sh up and down significantly in a short period of time.

[Balance]

Looks like the instos are playing silly buggers with the sp.

Read the SSH and noticed the insto have been reducing and adding their sh up and down significantly in a short period of time.

Frightening shortfall! 453m shares taken up by underwriters at 27 cents.

[Dr_Who]

Yeah, abit like TPI.
:D

Who dares wins. Interesting there were no book build for the short fall. All stock was taken up by the insto. Someone is playing games with this stock, me think.

[Balance]

Yeah, abit like TPI.
:D

Who dares wins. Interesting there were no book build for the short fall. All stock was taken up by the insto. Someone is playing games with this stock, me think.

Shortfall in TPI all taken up by one cornerstone shareholder. Not so with BLY.

[Dr_Who]

BLY closed on good volume 28 cents bid. This is very positive sign for BLY.

It gives confidence that there was no book build and the sub-underwritters took all the shares. Maybe, just maybe (guess only) the insto shorted the stock to depress the sp so they can scare mum and dad investors to not take up their rights.

[Dr_Who]

I too am in BLY for both technical and fundamental reasons.

1. Uptrend (ok, maybe a bit far above the trendlines at the moment). OBV going nowhere though :(

2. The smart and big money is comfortable underwriting at 27c.

How is the OBV now? :)

28 cents bid with good buying pressure.

[Dr_Who]

Interesting to see a few directors loading up on BLY shares while it is still cheap. :)

[COLIN]

Interesting to see a few directors loading up on BLY shares while it is still cheap. :)

Have taken up their rights, no doubt.
Now that the issue is out of the way there seems to be a resumption of the earlier upwards movement, which I expect to be a steady saw-tooth incline for some time to come.

[Dr_Who]

I agree. This has been a huge rights issue for BLY.

From memory, I think Austock have a valuation of 50 cents.

[shawsie]

before i dip my toe in this lake, what is the cogniscenti's (that's you guys) view on the debt pay down from the rights issue, how big the overhanging debt is, not to mention what F&TA make of this stock?

i will have a crack at the 128 page annual report, but I'm sure someone who has done the hard yards wont mind sharing their insight.

[soulman]

Don't forget SPP is next for BLY as forementioned by the coy. The price might be the same as the recap.

[Dr_Who]

BLY sh just apporved the SPP and insto placement.

This is an additional 851m shares issued. Will it come onto the market? I guess some of it will in the short term. :eek:

The insto must be laughing all the way to the bank trading this stock.

[gazprom1]

SPP at 27 cents or less looks attractive at the current share price of 31cents. A few more pennies to be made perhaps!!

[Dr_Who]

SPP at 27 cents or less looks attractive at the current share price of 31cents. A few more pennies to be made perhaps!!

I sold some of my holdings yesterday at 31.5 cents and still can participate in the SPP. :)

[soulman]

Good work Doc. Me too but at 31 cents. Not sure if BLY might rise when the insto gets their shares or fall. Time to raised some cash for myself as I have a few raisings going on at the minute.

[gazprom1]

Dr./ Soulman,

Did you see the notes to the SPP? Do you guys have an Aussie registered address as the announcement states that under NZ securities laws a person who as of the Record Date is a Registered Holder with an NZ address but who at the time of this offer (2 October) no longer holders shares cannot participate in this SPP?

Gazprom

[Dr_Who]

Gaz,

I can still participate in the SPP. I only sold half of my holdings so I dont have to front up extra cash to take up the rights. I guess a number of other investors are also thinking the same thing as I am.

I would assume some short term weakness with insto taking profit and shareholders selling to pay for the SPP.

[Dr_Who]

You guys participating in the SPP?

[gazprom1]

Dr,

Yep, will take the $15,000 max. Have you received your documents in the mail yet? Mine have not arrived to date!!!

Gazprom

[COLIN]

You guys participating in the SPP?

Yes. It would be folly to pass up the 10% discount to current market price.

Documents not yet to hand.

[Dr_Who]

I havnt receive my SPP documnents yet. :confused:

[Jaa]

How do you guys intend to pay?

Best way I can think of is by bank draft and snail mail which puts one at a bit of a disadvantage in having to make the call to invest a week before the close off date.

Only other option I can think of is to open an Aussie bank account and Telegraphic Transfer the money across and then BPAY it. From what I can see, you can open an Aussie account easily enough in NZ but you then need to activate it in Aus before you can use it.

Any other options?

[Dr_Who]

I just fax or email my broker the documents and they handle the rest. I am still waiting for the SPP documents. Have not arrive in my letterbox yet.

[COLIN]

How do you guys intend to pay?

Best way I can think of is by bank draft and snail mail which puts one at a bit of a disadvantage in having to make the call to invest a week before the close off date.

Only other option I can think of is to open an Aussie bank account and Telegraphic Transfer the money across and then BPAY it. From what I can see, you can open an Aussie account easily enough in NZ but you then need to activate it in Aus before you can use it.

Any other options?

The BPAY system is by far the easiest route to use, and you can delay payment right up to the closing day - provided you have cleared funds in your account, of course. Direct Broking can set up a Macquarie Cash Management Trust Account for you, although this could take a few days if you are unable to call at their office to arrange the paper work.

If you are buying and selling to any extent on the ASX you really do need to have an Aussie Bank Account, to avoid losing out on the FX buy/sell spread each time you move in and out of NZD.

[macduffy]

I agree, Colin.

BPay is by far the best if you have an Aust account and cleared funds in it. No bother about slow mails, once you have your new issue docs, that is, and able to delay decision and payment until very late in the piece. It's been very useful lately with the large number of issues being made.

[waterboy]

hi, there was another thread on this called investing in aussi share issues or something similar a couple of months back. I tried to set up a aussi bank account but it takes time, you do it over the phone and they send over the paperwork which takes at least a week. You then have to verify your id by having papers witnessed and sent back before you can make withdrawals.

Easiest thing i found was to get your broker to issue the cheque for amount you need in aussi dollars from their aussi bank account. Direct broking can for this if you are there customer. They will have the cheque to you fast post the following day. Done this twice now no problems.

[Jaa]

Thanks everyone for all the great ideas.

I finally did the logical thing and phoned my broker (ASB Securities) to ask what they recommended and apparently they have just begun offering BPAY if you have a foreign exchange account.

You can mail/fax/email them the BPAY form and so long as their is sufficient money in your $AUD account they will make the BPAY payment for you at a cost of $NZ12 a time.

Not perfect but not a bad compromise.

[waterboy]

anyone recieved the spp documents yet, thought they would have arrived by now but i see one has until the end of the month to participate so not panicking

[AMR]

Have not recieved anything yet.

[Dr_Who]

Have not recieved anything yet.

Nor have I. Will panic next week if I dont get anything in the mail.

[mark100]

They arrived in regional Queensland earlier this week

[COLIN]

Have not recieved anything yet.

Nor me, either. But we have until 23 October to pay, so there is still ample time.

[soulman]

I got mine early this week. Maybe NZ resident will take a little longer.

[Dr_Who]

If BLY can hold above 30 cents after SPP, it is a very positive sign.

[waterboy]

spp documents arrived today, agree looking good if holds at current levels. Predicting that once all the spp etc done with that this stock will be due for a good rise given commodity stocks rising across the board. Think spp is holding it back for now.

[COLIN]

spp documents arrived today, agree looking good if holds at current levels. Predicting that once all the spp etc done with that this stock will be due for a good rise given commodity stocks rising across the board. Think spp is holding it back for now.

I would agree with that.

[Dr_Who]

Applicants for SPP will get 65% allocation @ 27 cents.

A successful SPP.

[dragonz]

Applicants for SPP will get 65% allocation @ 27 cents.

A successful SPP.

Yeap a very positive sign. 27 support has held up well. One to watch.

[Dr_Who]

I ve been loading up on more shares at 27.5 cents.

[soulman]

I wished for a scaled down a few days ago because of the sliding share price. Now I will hold the SPP shares because they are at more comfy level than the $15K. Good luck.

[mark100]

I'm still holding my SPP stock (2 HINs worth). Not that comfortable holding this sort of company in the current environment but I'm hoping with the debt issues erased we will see a slow improvment in the SP as the new shares are sold from SPP traders to longer term investors. Not looking so good today though. Hoping for around 35-40c early in the new year if the markets only suffer a 'correction' and nothing more sinister

[soulman]

I also got 2 HINs worth Mark. You also got scaled down to about $10K worth per HIN? It's looking scary out there for BLY but the sellers would be selling into B/E at best. A waste of exercise. Let's hope it's only a correction and nothing sinister in the current market. I am targeting mid 30's for BLY.

Speaking of SPP issue, I had to sell my ELD SPP shares today. Too many sellers at 17.5 and 18. Hindsight tells me that I shoulda sell at yesterday's close of 17.5 but I got greedy and wanted more.

[dragonz]

I also got 2 HINs worth Mark. You also got scaled down to about $10K worth per HIN? It's looking scary out there for BLY but the sellers would be selling into B/E at best. A waste of exercise. Let's hope it's only a correction and nothing sinister in the current market. I am targeting mid 30's for BLY.

Speaking of SPP issue, I had to sell my ELD SPP shares today. Too many sellers at 17.5 and 18. Hindsight tells me that I shoulda sell at yesterday's close of 17.5 but I got greedy and wanted more.

I wou'ld panic just yet. :D

[Dr_Who]

LOL...

Patience grasshoppers.

Some of you guys have ADHA when it comes to investing. When someone says... "BOO" you all jump.

[dragonz]

LOL...

Patience grasshoppers.

Some of you guys have ADHA when it comes to investing. When someone says... "BOO" you all jump.

Would have to agree with you on this one Doc. But actually if anyone bothered to look at your record then they wouldnt be having this confersation. I just say its a good reason to pick up a few more shares. But then Im a contrarion.

[dragonz]

Oh I might add look at other contrarion shares we have backed over the last year. Gulp, purdon me, dont wont to brag. I guess record speaks for itself ;)

[mark100]

haha a couple of top guns hey. Anyone who brags on a forum is usually full of it. Big ball traders always buying the rights stocks at the right time blah blah

[mark100]

Nor have I. Will panic next week if I dont get anything in the mail.

Poor old doc was about to panic about his SPP offer being late. Harden up mate you can always get the payment details from the share registry. You must have ADHA when it comes to checking the mail box!

[Dr_Who]

Poor old doc was about to panic about his SPP offer being late. Harden up mate you can always get the payment details from the share registry. You must have ADHA when it comes to checking the mail box!

Yeah, this market is a funny beast. I tried bidding in the insto bookbuild and only got like 6% of what I bid for. There was huge insto and habitual investor demand. Then I applied for SPP and got 65%. And now, you can buy as much as you want at 27 cents and people are worried. What have changed in the last couple of months? To me this is a great opportunity to buy more if you believe in the med/long term story.

btw... I think I did have ADHA when I was a kid cos I always get bored at school ;)

[dragonz]

haha a couple of top guns hey. Anyone who brags on a forum is usually full of it. Big ball traders always buying the rights stocks at the right time blah blah

nah not really mark. Just saves me a bit of time if I can see what Doc, colin and other quality punters are doing. well done to those that didnt panic. Good action on BLY this morning. You can always tell that people like mark only have tiny little balls.;)

[mark100]

nah not really mark. Just saves me a bit of time if I can see what Doc, colin and other quality punters are doing. well done to those that didnt panic. Good action on BLY this morning. You can always tell that people like mark only have tiny little balls.;)

Other than a few decent chartists I don't see much quality in the posts on st anymore. Just lots of BS. Better get back to your day job dragonz because you don't get far relying on forums for your tips. Me and my tiny balls are managing just fine thanks

[dragonz]

Other than a few decent chartists I don't see much quality in the posts on st anymore. Just lots of BS. Better get back to your day job dragonz because you don't get far relying on forums for your tips. Me and my tiny balls are managing just fine thanks

Well at least we have one thing in common mark. Like you I am also a big fan of charts.:D

As to your tiny balls...................... Well at least you are honest:p

[Dr_Who]

Breached resistance of 30 cents. If it can stay above 30 cents, then BLY can go higher.
:)

[soulman]

Breached resistance of 30 cents. If it can stay above 30 cents, then BLY can go higher.
:)

With the way BLY is going at the minute, it could breached 100 million shares traded today. BLY was also the most traded shares yesterday.

Huntley has upgraded BLY to buy as global recovery leads to more business in the mining sector. The diggers are back in town as old/new projects are running again.

[Dr_Who]

What's Huntley's valuation on BLY?

Macquarie has a 12 month sp of 43 cents, from memory.

[soulman]

What's Huntley's valuation on BLY?

Macquarie has a 12 month sp of 43 cents, from memory.

They have a 39 cents valuation and buy below 29 cents.

[COLIN]

Its taking a while to absorb the rights issue, placements and the SPP but I think it is finally getting under way again. A thing which has intrigued me with this stock is the regular fine saw-tooth pattern of daily trading. It oscillates 0.5 cents for most of the day - I haven't noticed anything like this pattern with other heavily traded stock. Presumably day-traders are able to get worthwhile gains from taking in each others' washing all day!

[macduffy]

It might just be a case of numerous buyers and sellers and a heavily traded, comparatively low priced stock. Sooner or later, either buyers or sellers will gain the ascendency and a trend will develop.

Or is that just a bit of theoretical eyewash?

;)

[dragonz]

Its taking a while to absorb the rights issue, placements and the SPP but I think it is finally getting under way again. A thing which has intrigued me with this stock is the regular fine saw-tooth pattern of daily trading. It oscillates 0.5 cents for most of the day - I haven't noticed anything like this pattern with other heavily traded stock. Presumably day-traders are able to get worthwhile gains from taking in each others' washing all day!

Bots can sometimes cause this sawtooth pattern. Good breakout today.

[Dr_Who]

Very nice. Up 10% to 34 cents with big turnover. Up 26% since cap raising of 27 cents. :) Much better than any recent IPO.

[soulman]

Very nice. Up 10% to 34 cents with big turnover. Up 26% since cap raising of 27 cents. :) Much better than any recent IPO.

The break above the 32 cents resistance certainly look positive Dr. The volume and price action today all bodes well for BLY in the near-term.

[COLIN]

[QUOTE=dragonz;281947]Bots can sometimes cause this sawtooth pattern. QUOTE]

Yes, thanks, I suspect that is probably the case here.

Good to see it breaking into a robust trot again. Now well clear of my original purchase price of 9.7c.

[dragonz]

Another strong start to the day. With the massive volumes going through I think there'll be little resistance to the 40 cent mark. Any fundies got any comments on a realistic market cap on this one.

[dragonz]

What's Huntley's valuation on BLY?

Macquarie has a 12 month sp of 43 cents, from memory.

"Macquarie rates BLY.AX , as Outperform - Macquarie analysts highlight the point that things have started to look increasingly upbeat for Boart Longyear. The analysts believe initial indications are that major miners will increase their capex by 20-30% in the years ahead and this will have a positive effect on Boart Longyear, as the company has "significant operating leverage" to the global exploration cycle. Macquarie notes the world is currently climbing out of the trough. Boart Longyear should be a main beneficiary........"

http://money.ninemsn.com.au/article.aspx?id=976259

This might account for the 8 million odd shares that went through on closing

[Dr_Who]

Boart is performing surprising well in this weak resource stock market.

[AMR]

Blaarrdy hell :(

Sold out to pay an unexpected huge legal bill.

[Dr_Who]

Blaarrdy hell :(

Sold out to pay an unexpected huge legal bill.

Nevermind mate. There are always opportunities in this market.

[drillfix]

Boart is performing surprising well in this weak resource stock market.

Yes indeed Dr.

But why exactly is this, and what is its full mean or possibilities with regards to others stocks turning around? Surely it has some significance would it not?

[COLIN]

Back on the right trajectory.

[soulman]

Blaarrdy hell :(

Sold out to pay an unexpected huge legal bill.

You are not alone in this one AMR. My reason was simply impatienist.

[Dr_Who]

37 cents! Great little performer.

You could get all the shares you wanted and many more one month back at 27 cents.

[COLIN]

37 cents! Great little performer.

You could get all the shares you wanted and many more one month back at 27 cents.

Yes, I like it.

[snackpack]

Something has happened with BLY that I can't wrap my head around. It seems that the BLY ticker has changed to BLYDA as in E*trade BLY does not exist any more. Yet, BLY is still listed on my portfolio. BLYDA is about $3 a share where BLY was about 30c a share. I can't seem to find any company reports stating any changes unless I am looking in the wrong places. Any ideas, as I seem to have missed a big message somewhere along the line?

[Corporate]

Something has happened with BLY that I can't wrap my head around. It seems that the BLY ticker has changed to BLYDA as in E*trade BLY does not exist any more. Yet, BLY is still listed on my portfolio. BLYDA is about $3 a share where BLY was about 30c a share. I can't seem to find any company reports stating any changes unless I am looking in the wrong places. Any ideas, as I seem to have missed a big message somewhere along the line?

Share consolidation:

http://www.directbroking.co.nz/directtrade/dynamic/announcement.aspx?id=2509168

This is definitely one that got away for me. I nearly loaded up 1 million of BLY at 6c - within 6 months it was around 40c.

[snackpack]

Cheers, unsure how I missed that. I suck. BLY has been good to me too.

[macduffy]

The original BLY announcement was "hidden" in resolutions for the AGM.

Missed by quite a few!

[winner69]

Interesting question re consolidaions

Is going from 360 to 310 in a few days more painful than 36 to 31

Just that 50 cent drop feels like a pain but 5 cents not too too bad

[winner69]

Share consolidation:

http://www.directbroking.co.nz/directtrade/dynamic/announcement.aspx?id=2509168

This is definitely one that got away for me. I nearly loaded up 1 million of BLY at 6c - within 6 months it was around 40c.

Corporate - at the rate BLY is falling you might get another opportunity

Since consolidation 360 to 277 is an unmitigated disaster for shareholders ..... not wanted since the AGM

Hope that the conslolidation hasn't fooled punters and some are profit taking

[Corporate]

Hope that the conslolidation hasn't fooled punters and some are profit taking

Surely not....Haha bring on 60c. I'm cashed up and waiting on the sidelines!

[winner69]

Corp me old mate .... still going down down .... 264 a long way from 360 odd a week or so ago

market sentiment is so poor you would think they going broke

Keep watching eh

[Jaa]

All that after the profit upgrade a few weeks ago too...

[winner69]

Saw onone of their drills heading to the top of the mountain to drill the hole at Pike River ... good on them

[Packersoldkidney]

Recently bought a small parcel of these on the basis of their annual report. In the right sector and under-promising and over-delivering. Looks to have broken through technical resistance in recent days and has universal broker approval. Nothing to dislike here.

[Joshuatree]

Youch! big drop despite good results of re 78c following outlook and guidance suggesting back to 2011 type rev next year. Value trap or bear trap. IMD dropped in response too. I hold IMD.

[winner69]

Certainly a big reaction ..... Been great value too many times for my liking so not even on the watch list the mo

But hey mate ......go for it ......this might be time

[Joshuatree]

Falling knives no thanks. Will watch that sector.PE now 4.3 d/y over 6. New wave of selling as out of aussie folks came in to the mkt.

[soulman]

Not just IMD. Look at MAH, MND, ALQ and many more mining related coy. I am getting hit with MND and MAH. I will tooth comb their profit result later again today. From memory, MAH has reduced their debt quite significantly and MND has $150 mil in net cash. Both trading on cum-div.

I hate the fact I still cannot do short selling. BLY will be perfect to short at $1.50 right now. My options is options.

[Joshuatree]

Some think BLY's outlook was the trigger for most/all mining services/drillers dropping today. " Revenue and Ebit/da to be more inline with 2011 results". An insight into the future , a trigger for down days ahead or an over reaction.?

[winner69]

Not just IMD. Look at MAH, MND, ALQ and many more mining related coy. I am getting hit with MND and MAH. I will tooth comb their profit result later again today. From memory, MAH has reduced their debt quite significantly and MND has $150 mil in net cash. Both trading on cum-div.

I hate the fact I still cannot do short selling. BLY will be perfect to short at $1.50 right now. My options is options.

Once you become unloved things get pretty desperate eh

Shareprice approaching 1buck - heck it was 140 when you posted last week soulman

[soulman]

Once you become unloved things get pretty desperate eh

Shareprice approaching 1buck - heck it was 140 when you posted last week soulman

$1.50 winner......I have to explore this short or put options.....My Westpac broker told me they have no CFD since MF Global collapse. I never trusted CFD to short anyway. There is put option available but I will be a student of that game.

RIO, FMG are others I wish to short. Anything with large debt. I mean, even by my stubborness of refusing to sell, MND is getting the ass wipe and this well managed coy has diversified into LNG and maintenance side of biz, has $150 mil net cash and forecast an OK outlook. The market has looked 12 months ahead already into the gloom and doom of commodity prices.

[Felix]

The recent share price collapse just seems like an over reaction. They're going to make a full year profit at a similar level to last year, which was a record for the company, and they are on a very low PE of 3. They increased their half year dividend, which suggests they don't have significant debt issues. The directors have jumped into the market over recent days and started buying shares.

Surely the market is now assuming the absolute worst for the next 1-2 years. It will be interesting to see where the tide turns for the company and share price.

[winner69]

Punters still over reacting Felix ....did I see 67 as the close today

What a disaster this company has been ....once upon a time punters couldn't get enough of the stock and now this

[winner69]

I would not get too excited about this puppy, guys.

Isn't this the company which was floated to the market for a huge profit by Macquarie? Bought for US$545m in 2005 and sold to the market for A$2.35b (US$1.96b)in 2007.

The market bought a dog and it's no wonder the company is buggered.

Good call balance ....right again

[winner69]

Fighting for survival now

http://www.businessspectator.com.au/article/2013/8/26/resources-and-energy/boart-longyears-dirty-thirty-five

[winner69]

Nothing seems to have changed in BLY land

Another capital raising likely to keep it afloat

Again the winners are the money men.....but they could be a bit worried about their 600m debt

[winner69]

Punters still over reacting Felix ....did I see 67 as the close today

What a disaster this company has been ....once upon a time punters couldn't get enough of the stock and now this

Crashes to less than 10 cents as another over reaction causes a trading halt

Wonder if this time around euthanasia is the cure ......this dog really needs to be out of its misery

[Joshuatree]

Ooooh bugger and Market Analysis reccoed this as a buy yesterday. Anyone get caught? Commiserations if so.

[PLYNCH]

Anyone still following this pup?Has just been recapitalised.Lots of new shares issued.