byh, page-8

Frankly it just shows how stupid ASX investors are.
BYH currently has a market cap of $6 million and has a 50% joint venture with OM Holdings the largest manganese alloy producer in SE Asia (outside China).
OMH has a turnover above $1 billion and a EBITDA above $200 million. OMH could snap up BYH with the loose change in the coffee tin.
Unfortunately BYH management have been hopeless and have showed no support for the company themselves unlike OMH's CEO who wades into the market and spends $440,000 snapping up cheap shares.
Whilst manganese ore isn't as sexy as lithium, Mn plays a significant role in the production of steel and will never not be required to produce the essential Mn alloy additives.
BYH has high grade Mn ore unlike some others who must beneficiate their ore.
The main problem I see for BYH is that when cash is needed the low shareprice will mean huge dilution and since management have no skin in the game they will just go ahead and dilute the hell out of ordinary shareholders.