BLY - Boart Longyear Group

[oldblue]

As far as weak balance sheets are concerned BLY takes some beating!

Equity of $152m at last balance date "supports" total liabilities of $1.141b!
Borrowings of USD585m due for re-financing in 1st quarter 2010.
I'm not surprised that SP is so weak given current credit market conditions.

 

[doogie_goes_off]

I'd say assets like drill rigs in a mining downtorn would be basically worthless and any 'service provision' would be drying up and quite cheap, maybe they shouldn't have paid so much money to try and monopolise local markets!

 

[enigmatic]

Just started watching this stock recently trying to get myself a list of shares to buy once the market finally returns to the bull market.. ( I know cant call it waiting till the 150-200MVA is breached havent decided.

Any how back to this share, when i first looked into it the company seemed like a good opportunity especially due to the SP however after looking over the books there debt is looking more and more as if it it will be to much for the company to handle. Unless things turn arround in the next 3-6months I see this one going only one way.

Still going to watch this see if something changes but with less and less work and that debt due date getting closer and closer I think standing back and waiting for a positive outcome might be the right choice for this High risk stock.

 

[psychic]

I bought a small parcel of BLY just before the close of trade on Friday, seems to me like a blue-chip bargain. Hold for a a rebound over coming weeks

 

[trillionaire#1]

a solid week for BLY , up 40%.

i had my finger on the sell button last week when she went down to 8.6 cents
report due out soon , and with some improvement in the mining sector of late
Boart may well lift itself a little further of the canvas.

 

[Trader Paul]

Hi folks,

BLY ... as requested, here's some astroanalysis on BLY, over the
next couple of months .....

30042009 ... expecting negative news, soon.

14-19052009 ... negative spotlight on BLY, triggered by 2 significant and
negative time cycles, which should also bring more negative news.

28-29052009 ... minor time cycle

10-19062009 ... 2 negative time cycles and more negative news ... ???
..... this could be BIG ... !~!

07-09072009 ... a significant and negative cycle here & looking for a low.

17-20072009 ... 2 positive cycles and some good news expected here.

29-30072009 ... minor time cycle.

3107-03082008 ... negative news expected here.

More later.

have a great day

paul



=====

 

[happytown]

recent market update (21/04) already providing negative news

some potentially negative news that may impact on them in the near term

*over 60% of drilling service revenue base derived from copper and iron ore - iron ore contract prices could be settled soon, some expect 40% drop, may impact number of rigs standing idle, let alone daily rig hire charges (the days of 10K a day for a UDR1000 just to park on site are rear view mirror material) irrespective of the majority of their clients being the majors (bhp culled a lot of their nickel rigs when the price dropped)

*the co looking to commence the "formal refinancing process in the next several weeks" regarding april 2010 debt maturity - will the credit market be amenable, let alone the potential for broker negative sentiment should the odd rumour waft around

*major shareholders have in the last week ceased to become substantial holders - yet still have more to offload, should they elect to, further stalling any sp recovery in the near term

like some other co's boarts chose to load up with debt in recent years for acquisitions and expansion

since the beginning of the year trainee, cross and relief drillers have taken pay cuts to work as offsiders just to keep their jobs

will be interesting to see if any of the above pans out and if it correlates to the astroanalysis

some vsa would be interesting

cheers

 

[happytown]

after relatively heavy selling off recently this stock may be reversing the trend, at least in the short term, the larger parcels in the last half hour have been accumulation not divestment

time will tell

cheers

 

[oldblue]

after relatively heavy selling off recently this stock may be reversing the trend, at least in the short term, the larger parcels in the last half hour have been accumulation not divestment

time will tell

cheers

My forty odd years of investing has taught me that one man's accumulation is often another man's divestment. I've always found it difficult to tell otherwise.

 

[engo]

Pala Investments has just become a substantial holder with 6.4%.

Looking at their website

http://www.pala.com/index.html

and doing a bit of googling of them, I get the impression they might have big plans for Boart Longyear

 

[Loose]

Can someone please help me with chart analysis on Boart?

I'm looking at incredible charts and it's a bit messy

Thanks in advance

Loose

 

[Hendrik]

Can someone please help me with chart analysis on Boart?

I'm looking at incredible charts and it's a bit messy

Thanks in advance

Loose

I second this, although i tried to do some basic TA and there seems to be an upward trend occuring, based on daily charts and weekly charts (6month) the MACD is looking positive, and bollinger bands support the fact that its undervalued

 

[happytown]

...

14-19052009 ... negative spotlight on BLY, triggered by 2 significant and
negative time cycles, which should also bring more negative news.

...

yet another substantial holder ceasing to be (re ann 14/05)

the chairman broached discussion of the big d-word in his address to s'holders on 11/05 (see ann)

concern over the possibility of breaching covenants

round-table discussions with bankers

cheers

 

[YELNATS]

good pick yellow nuts

i'll go lum for no other reason than its on my watchlist and adi is taken

Bly, picked them in the tipping comp 3 months running now. Yet to really improve, but I'm a patient geezer.

Interested to know why you think it's a good pick.

 

[happytown]

boarty mcboarts to be removed from the s&p asx100 from 19/06# and consequently up approx 17% today on good volume

possibly progressing well with debt discussions with banking syndicate

cheers

#see trader paul's post above

...

10-19062009 ... 2 negative time cycles and more negative news ... ???
..... this could be BIG ... !~!

...

 

[YELNATS]

As one melbourne-based race-caller used to say, "where there's smoke there's blue cod". Significant rise today. We await further developments.

 

[happytown]

on the boartwalk ...

currently up approx 14% on the day

perhaps the outlook for their drilling services and products is improving with every successful new raising by mining co's

cheers

 

[happytown]

mcboarts up solidly today, currently approx 15% @ .23, this has been a solid move up over approx the last week from .13

several substantial holders have unloaded their holdings over the last few months

the majority of their drilling contracts are with the majors

discussions with their banking syndicate re debts maturing in 2010 are ongoing

cheers

 

[jbocker]

Boarts dont know why the jump. Anyone have a theory on why the increase of late. Is there some of the big money starting to move into the market generally? Is there a June thing (end of tax year). Or is just market confidence improving, I just dont know.

 

[happytown]

you little boarty

currently up 15% today on countinued large volume

it's not every asx100 stock (at least for another week), that in the space of under a fortnight can return a profit of over 100%

in boart's case no news appears to be good news

cheers