this is the reason for the fall in the past few days
Mining services group Boart Longyear BLY.AX fell 6.8 percent to A$1.50 after Citi noted that Boart's Canadian rival, Major Drilling MDI.TO, said a few junior miners had cut their drilling programs.
"Although MDI stated the impact is limited to date, we are afraid that this could be the start of something much more sinister, considering 60 percent of industry exploration budgets come from juniors," Citi said in a research note
BLY Price at posting:
$1.18 Sentiment: None Disclosure: Held
