BRL - Bathurst Resources

Bathurst Resources (BRL) has exploration and mining permits covering 10,000 hectares on the Buller Coalfield, in New Zealand’s south island.

The company has two operating mines – Cascade on the edge of the Denniston Plateau, which produces semi-soft coking coal, and Takitimu in Southland, which produces thermal coal. It also owns a coal distribution centre in Timaru.

Bathurst Resources (BTU) is dual listed on the NZX and the ASX with all of its operations based in New Zealand.

http://bathurstresources.co.nz

On December 31st, 2013, Bathurst Resources (New Zealand) Limited changed its name to Bathurst Resources Limited.

Bathurst Resources looks to be waking from its slumber after mostly trading sideways since February. There looks to be very solid support at 14c. Volume has been increasing over the last few trading sessions and more than 5 million shares were traded in the first 20 minutes today.

Currently up 10% to 16.5c with the buy side of the market depth building. There appears to be resistance at 18c and again at 20c. Am watching closely for further evidence of increasing buying pressure.

BRL came up on my Fundamental scan which is under development and I thought that I would have a quick look it at and obviously by the amount of post here it is pretty unloved in the ASF world

Exploration details



Market Index Info



CAM Weekly Chart



So looking at some of the information above I would move on pretty quickly......is there something that I am missing ????

Court case pending - $40M USD Liability - not very positive
Share buy-back @ a range of 11 to 14c for $3.89 M - not very positive as the SP has continued to fall

FY gross profit $10.77M - not to bad at all but down on 2019
Current Assets $ 15.4 M

Summary...

Not for me but will be interesting to see how it goes in 3-6 months

Trav. said:

by the amount of post here it is pretty unloved in the ASF world

Click to expand...

Unloved perhaps but a nice ride over the past few days for those holding.

The chart says it all...