It depends who's analysing the assets? The liabilities are easy it's debt you owe to some else, and that someone will make sure you pay up. I have assets and in my opinion are worth millions, but only if I can find a buyer, it's illusionary. They also have millions of tonnes of stock sitting idle that someone may want, if they don't then it becomes a writedown which means your assets are worth less. Look at the last 6 monthly financial statement inventories they have grown by 25%, it means they have the stuff sitting around and accumulating with no buyers for it. Can't be smart unless you think the price of HRC is going to rise above production costs. BSL is starting to look like a junior miner hoping on good drilling results or a JORC increase.
BSL Price at posting:
82.2¢ Sentiment: None Disclosure: Held
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