The last comment ".......but they are almost certainly customers on the products side", is clouded by the fact that since the down turn in the industry, Asian manufactures have established local offices, cutting out the middle (cost), to sell direct to the consumer. Drillers can buy on consignment with terms matched to their needs. BLY don't, and are still the most expensive on the block. Drillers don't need BLY to redesign a circle to lock them into consumable dependency. They've been walking away from BLY for years and won't be coming back.
The "wave speech" by HST is a funny way at looking the investment boom, and its end........"History is hard to know, because of all the hired bullshit, but even without being sure of "history" it seems entirely reasonable to think that every now and then the energy of a whole generation comes to a head in a long fine flash, for reasons that nobody really understands at the time—and which never explain, in retrospect, what actually happened.
.......You could strike sparks anywhere. There was a fantastic universal sense that whatever we were doing was right, that we were winning.…
.......We had all the momentum; we were riding the crest of a high and beautiful wave.…
....So now, less than five years later, you can go up on a steep hill in Las Vegas (Broken Hill) and look West, and with the right kind of eyes you can almost see the high-water mark—that place where the wave finally broke and rolled back"
Short term sentiment may change BLY's SP, but it's fundamentals won't.
BLY Price at posting:
9.8¢ Sentiment: None Disclosure: Not Held
