Going over some rough numbers in the 2018 HY and Q3.  I think...

Going over some rough numbers in the 2018 HY and Q3.  I think there's a chance BLY could come away with a small net profit this year, or very close to break even.  Big call but I've made it, pending left field actions from party wrecker Centerbridge.

BLY 2018:
- HY underlying NPAT (loss): (16.3M).  Statutory: (20M) due forex.

- Q3 underlying NPAT (reported as 'adjusted NPAT')  (loss):  (8M).  Statutory: (11M).  Adjustment reason not stated, probably forex or another hedging derivative.  These are much better numbers than 2017.

- 50M of once off recapitalisation costs as listed in the FY 2017 report will be saved as compared to FY17.  (First class flights allowance and general chump change for note holders).

- Debt reduced from 688M (HY) to 667M (Q3).

- The big dark horse will be Q4 revenue.  It was a very good quarter for copper and gold.  Gold jumped strongly and copper held strong. It may well be the best quarter for 2018.  I estimate over 200M, maybe as high as 220M.  By contrast Q3 revenue was 196M.  Q4 could all but wipe out the cumulative loss for FY18. 

Other related good news :

- Major Drilling, a major TSX listed driller probably second to BLY in market share, reported good FY19 second quarter results released on 4 Dec 2018.  (Weird dates due Canadian fiscal year, and I think Major Drilling's fiscal year maybe be offset from that, to confuse matters further.)

- Swick Mining, ASX:SWK, reported good Q1 FY19 results and stated a generally positive outlook.  However I'm unsure what their diamond / mineral drilling ratio is.

- Ausdrill. ASX:ASL, reported good Q1 FY19 results and won some large gold contracts announced on 21 Jan 2019.  

- A pick up in drilling from any company is good for BLY too, if they use BLY rigs, parts, drill bits etc.