Looks like BDL has been thrown into same category as Boart Longyear(BLY). Share price of both companies almost on identical downward slide for last year. BLY has actually done worse. I know BDL debt is not just bank loans, but equipment finance, but people just don't seem to care about this. Also how much would second hand rigs fetch in current mining environment? Agree I would like to see please explain from ASX on BDL, but they would probably say earnings for y/e 09 are ok. Problem is this, if miners keep cutting back on work, 2010 could be very ugly since they have ramped up capex hugely in last 3 years and hired lots of staff. Some of the expansion seems questionable. They were whingeing about DT-Hi Load performance about 5 seconds after they bought it. I mean did they do any due diligence and market appraisal at all?? They are not paying a dividends so long term s/holders have got NOTHING from them for nigh on 3 years, except dilution. I wonder what the bigger share holders are doing, escpecially the guys that paid out 25 cents for the $11m shareholding in Aug???
BDL Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
