Thanks BuyNHold. That's a very good point you've added. The other thing I didnt mention is that APAC/Shougang had to offer a premium otherwise the existing shareholders would possibly not vote for the deal.
We will see with BLY, but one thing for sure, BLY management appear to have been making both smart and tough decisions to pull the company through, in cutting costs, carving off non-core assets and activities, and now negotiating a re-financing deal to hopefully avoid a capital raising or at least minimise one if its required.
Ultimately I think BLY will trade in its current range and possibly in the short term move back up into the low-mid $0.30's (I've added a chart below which shows my analysis of the current and short term situation), but once the re-financing and possible re-cap has been sorted out I would expect BLY to improve significantly in the medium term (3-6 months).
Remember though, these are only my opinions (I am an amateur like many on HC), so I may be totally wrong.
Cheers & good luck all, Sharks
BLY Price at posting:
20.6¢ Sentiment: LT Buy Disclosure: Held
