Just a quick wrap-up of what I think has happened today. The 7% fall is some what an over reaction to the announcement, earnings and outlooks are not surprising in my opinion.
The report really is suggesting that the recovery pace in mining and exploration sector is not what many people are anticipating. BLY's 2009 net loss and this year's 15% growth (with uncertainty) strongly reflected the momentum of recovery. Moreover, H1 revenue = H2 revenue (H1 being the typical slow season) H2 really hasnt live up the hype that was portrayed by the media & many investors. Consequently, investors today concentrated on last years earning rather than future values.
I hope this explains today's sell off.
Cheers
BLY Price at posting:
$3.20 Sentiment: LT Buy Disclosure: Held
