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DIY Trader
- Joined
- 3 February 2010
- Posts
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- 345
... and the answer: An obvious "No!"
A number of the biggies have issued downgrades, and the Market reacted: 4M short in today's report.
http://www.asx.com.au/data/shortsell.txt
Is it time to get back on boart?
... and the answer: An obvious "No!"
Last time it hit these levels, after surprising the market, it was a table pounding buy from what I could see from those that spend their time analysing the space.... and the answer: An obvious "No!"
A number of the biggies have issued downgrades, and the Market reacted: 4M short in today's report.
I am surprised to see strength in MND today - I expected to see it do a BLY.
Don't you hate it when you are too quick for the market!!
Ha.... thats been my last 10 days!
Thought it was a bit happy rising 9% on confirmation it has cut back lots of staff and so on to cope with less!
Glad I sold too now that it's only 3%
Is it getting stuffy in here or is it just me?
In 2005 Boart Longyear was divested by Anglo American and acquired by the private equity firms Advent International, Bain Capital, and several management investors. The headquarters were then moved to Salt Lake City. Since the sale by Anglo American, management had undertaken a number of ownership changes, restructuring initiatives, and acquisitions, all establishing Boart Longyear as a global leader in mining exploration services and products. By October 2006, Advent sold Boart Longyear to the Australian investment firm, Macquarie Bank, and, in April 2007, Macquarie took Boart Longyear public in an A$2.3 billion IPO on the ASX stock exchange. Boart Longyear’s IPO was the second largest IPO in the history of the ASX. The patented Stage™ waterway bit design was introduced and provided the first extended 25mm crown in the market.
In 2008 Boart Longyear acquired Eklund Drilling, Britton Brothers, Aqua Drilling and Westrod Engineering. The new patented Quick Descent™ Core Barrel Assembly was launched.
Early 2009, Paul Brunner retired as Chief Executive Officer of the Company and was succeeded by Craig Kipp, who had served for three years as Chief Operating Officer. Prior to joining the Company, Mr. Kipp was employed by General Electric from 1983 to 2005.
In early 2010 Boart Longyear continued to introduce new technology to the industry, drilling products include a heli-portable surface drill with integrated rod handling, patented surface set bit technology and patented spearpoint design for the corebarrel head assembly. However, after over 30 years of Anglo American’s ownership, Boart Longyear was considered a non-core asset for the Johannesburg based mining company.
Boart came across my eyes tonight after I saw a 10% decimation today - down to a princely $1.09!
One that I've always been interested in but seem to underperform on the whole...could now be a good time to take a position?
Things to note:
NTA: $1.55
Reduction in costs/headcount
Margins have been reducing but latest report seems to indicate this will improve
2 major minerals they supply for - Copper and Gold - don't seem to be as volatile as iron ore (gold at the moment does but I feel it could turn with the worlds problems).
May have a read over the weekend to determine...thoughts from others?
Boart came across my eyes tonight after I saw a 10% decimation today - down to a princely $1.09!
One that I've always been interested in but seem to underperform on the whole...could now be a good time to take a position?
Things to note:
NTA: $1.55
Reduction in costs/headcount
Margins have been reducing but latest report seems to indicate this will improve
2 major minerals they supply for - Copper and Gold - don't seem to be as volatile as iron ore (gold at the moment does but I feel it could turn with the worlds problems).
May have a read over the weekend to determine...thoughts from others?
hey JTLP you message me a few times so I like to tell you what I know... NTA doesn't really mean much to us retail investor because unless you take control of the company and can salvage it like a private equity
they provide little benefits.
I take exception of properties holding like HVN and discount a bit and NTA should be their floor price and so in my opinion any way and that why I buy HVN at $1.80 etc...
Hard backing asset like properties do worth something regardless of what other people say, land value has to be worth something and there are always buyer for properties even if it is a ****ty properties..
value can be found when the market is fearful and they throw logic out
if you have strong foundation you can sort out the fear from the logic and prosper
Margin call I reckon...no its EBITDA interest cover is 12-13 times
can take a fair bit of beating on earning....their cost initiate should paid off
in the next 6-12 months and stop outflow ....you get an update in May from the new CEO....
I bought some more today.... I got no debt no margin I can ride the beast ....
too irrational...good day to have cash
no one can tell when is a good time to buy...you just have to be comfortable with what you get and for the price you want and ride it
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