At last we are in agreement on Boart. I had hoped it would be the other way around and you would have become a buyer but it did not work that way and I was the one who got it wrong. I am totally out now and having read today's reports, I have no intention of coming back in the foreseeable future. They do look to be in trouble for the shareholders although I hope they get through. I thought that the CEO's comment on 21 July "our underlying franchise continues to generative positive cash-flow" was highly misleading. It caused the share price to recover very strongly from 8.7c up to a peak of 26c but I certainly cannot find a positive cash flow. He ignored the massive interest payments which I think misled the recent buyers.
The CEO said in today's report that they had had many discussions with well recognised and capable investors. I presume that included Beutel who then turned around and sold all of their shares. I wonder if Beutel got to read back then what we read today. It is a tough game we play at times.
GPASAS
BLY Price at posting:
17.0¢ Sentiment: Sell Disclosure: Not Held
