Ann: 2017 Full Year Results Presentation, page-37

Disagree. A revenue increase of 50% may see them in profit or close to it.

- 50M of re-cap expense this FY. That's 50M saved next FY. That's not chicken feed.
- Agree with the lousy re-cap. BLY is in a tight spot, even more so mid 2017, so creditors held all the screwing power.
- As for the South African sale, was it just an impact of the mining macros? Was it soon to be loss making? Just like the rigs they've sold; they're loss making items or about to be. Nothing wrong with downsizing at the mining cycle low.

Todays dumping at 1 - 1.2 may have been the last of such. The time to buy is now!
- Debt reducing.
- Revenues increasing, and importantly from product sales as well as drilling.
- Exploration growing.