BLY is an interesting case study.
Just over 11 years ago or so they were sailing along making profits and pivoting to high risk jurisdictions and more than 30% revenue from exploration drilling. They used debt for their pivot.
Then the sector hit a downturn and things went south very quickly. They eventually lost something like 99% of shareholder value.
Most drillers and mining contractors hit the wall during that downturn- some recovered and later thrived- some did not.
There are a lot of learnings here. This sector has risk.
The West African risk in PRN is a concern to me. I preferred the DDH risk. Whatever.
IMHO DYOR
And seasonal greetings to all.
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4 | 60831 | 1.025 |
3 | 12290 | 1.020 |
2 | 12695 | 1.015 |
2 | 13823 | 1.010 |
Price($) | Vol. | No. |
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1.055 | 19400 | 2 |
1.060 | 26075 | 2 |
1.070 | 60497 | 4 |
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