I recently bought BNT after taking a look at 22.5, but have now sold out at 23.5-24.5
The trigger to sell was from reading their quarterly.
Perhaps you can shed some light.
Looking at their quarterly, I notice STAFF COSTS is significantly higher than their operational revenue.
Given the type of business they are in (basically contract mining with specialised equipment it would appear), I became worried that much of the staff costs would need to be replicated across all future contracts...that is, staff costs would be a significant hindrance to profitability.
What are you thoughts on this...are staff costs predominatly taken by 'non-repeated' director costs? Since no annual report as yet, this information is unavailable, or at least i dont have a document that contains enough info to answer this query.
Interested in your opinion on this as I would like to buy back into the company if the above is not an issue.
Cheers
Cdchi1
BNT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held