re: Ann: 2009 First Half Results and Capital ... "I wish i had...

re: Ann: 2009 First Half Results and Capital ... "I wish i had never heard of Boart Longyear. it will be a 'longyear' allright before we get back above 1.20. more like 5-8 yrs IMO."

Mike, not sure if you've done your maths BUT assuming information from your post is correct:

44c (last closing price) turning into $1.20
in 5 years is 22.22% annual compounded return
in 8 years is 13.36% annual compounded return

All this assuming no dividends within that period of time (highly unlikely given they'll have no debt within couple years).

Now you are clearly complaining about BLY, but most of us, taking facts from your 'worst scenario' for granted would be absolutely happy with 13%-22% annual return for the next 5 years - that's at least double what interest rates will be during this time.

I can't believe how many uninformed comments have been made and people not knowing basic "Theoretical Ex-Rights" pricing formulas or having any idea what "Record Date" is.
Truth is, everyone with shares gets a chance to double up at good price, anyone who doesn't should at least buy a small parcel (CommSec minimum $500) as soon as possible and hope that SPP is approved (not clear whether institutional investors would support it but probably will). It's a simple strategy that applies to any Rights issue or SPP.