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BLY - Boart Longyear Group

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Only way I could explain this is that ppl think that they will need to raise capital again given the increase in debt with increased working capital.

I guess management has no credibility and they weren't able to manage cashflow when times were good so who knows.

Pretty solid selling all day so will be interesting to see where it ends up today
 
The share prices of all the engineering firms are being smashed today. BLY down 7.0% but it's not as bad as ASL (down 8.1% so far today) nor MACA (down 7.6% so far today).

Sentiment has really turned against the engineering firms and it could make for some good buying prices for the long-term investors. But DYOR.
 

Two smaller firms that I follow.

DSB - record profit yesterday. Closed 80c yesterday. Today, down 4%, with 65c highest bid.

GCS - PE~4. 22% profit rise today. Down 11%.

Now can someone please go whack WOR down... I can't stand it being green AND has the highest PEx.
 


Add FGE to the list. Just posted record profit, no debt, plenty of cash. Down from just over 5 dollars a week ago to 4.15
 
Plenty of value available in the mining service sector. Sentiment might take some time to turn around though.
 
skc said:
I think it's more to do with balance sheet leverage and operational leverage.
Click to expand...

That's my opinion too.

With the debate still being argued around the existence of a super cycle it’s possible that good quality, robust and manageable balance sheets will retain favour longer as a means of exposure to the next upturn that will be sooner and larger if the super cycle theory is correct.

For the lower quality getting hammered now, the super cycle debate is mute because even a downturn in a super cycle will hammer their utilisation and profitability.

Not sure I would be going short high quality and long poor quality just yet – this catch up is probably a better proposition once the commodities super cycle theory really looks like going to its knees - Timing????
 
Down another almost 10% this morning. New 52-week low posted. I'm starting to take a look at it in a bit more detail.
 
McCoy Pauley said:
Down another almost 10% this morning. New 52-week low posted. I'm starting to take a look at it in a bit more detail.
Click to expand...

Ex-div 6.5c so that's half of today's fall.

FMG shelving its expansion plan is a further blow to the sector already on its knees.

NWH works with FMG got belted.

Market now doesn't just worry about "pipeline" not eventuating - you have to wonder how firm are actual work orders..
 
Big down day again along with mostly all the other mining service cpy's that I follow. AZG starting to join the falls now, I'm suprised its taken this long..as its one of the ones that has cashflow issues....
 
VSntchr said:
Big down day again along with mostly all the other mining service cpy's that I follow. AZG starting to join the falls now, I'm suprised its taken this long..as its one of the ones that has cashflow issues....
Click to expand...

BLY directors are buying. Something is up. Where is inspector clouseau when you need him?
 
VSntchr said:
Big down day again along with mostly all the other mining service cpy's that I follow. AZG starting to join the falls now, I'm suprised its taken this long..as its one of the ones that has cashflow issues....
Click to expand...

AZG is great value in a resource boom market.

In a downturn it'd be firtst to go. It's way too reliant on its corporate credit card...

Wait 'til Gina says Roy Hill is on hold and watch the sector fall further...

Re Directors buying BLY - it was a good symbolic gesture for them to pick up 20,000 shares each. But I wouldn't jump to the conclusion that something is up.

Twigger bought $40m FMG last week and the only thing that's up is his capital loss.
 

Good point skc but is it being over sold?
 
Anyone looking at buying?

Looks ok to me. 1.09 was the obvious entry but the power went out here for 2 hours when that happened!
 

Not another Chinese conspiracy from you, Notting!

DML and SDL are barely worth $1B. EOC is worth a tiny $70m. Did the Chinese manipulate the commodities market worth hundreds of $B so they can save 25% on taking over 2 companies worth $1B each?! Come on! The lead buyer for ARI are not even Chinese!

The problem is domestic insto investors don't recognise long term strategic value. They are the ones who dumped ARI to historic low prices by reacting to only the next immediate quarter. When something is cheap enough, new buyers come in. But don't blame the new buyers for the price fall in the first place!
 
Don't press that red button on my forhead!

You know what happens :bonk:

Well, yes, but the price fall in the first place is due to deliberate Chinese destocking.
They managed to change the entire world sentiment on materials this time.
It doesn't cost them anything to manipulate they just stop buying all Chinese companies all at once!!!!!!!!!(of course their not state controlled no, never, not us, these r private companies)

Then surprise, surprise the Chinese are the first to come flying into the spot market to make massive purchases of iron ore at the down ramped price after tanking it!!

They have just tried to grab what is cheap and strategic useful for their evil aspirations.

The point is they will and do manipulate everything they possibly can regardless of international trade laws.

And they are not finished yet

No conspiracy it's the Chinese. :whip
 
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