Has investment started to flow into the industry in more than a dribble? Has this investment now reached 2H 2011 levels when the investment cycle into the resource sector peaked? No.
Its great news that BHP are opening the purse strings but it doesn't equate to drilling meters the following day. Just as we saw a lag in the way BLY shares traded when the last of the investment money was spent in 2012 (BLY's revenue peak), to the fantastic slides of 2013 and 2014 to stagnated survival in 2015 and 2016, it will take 12 to 18 months of investment recovery to see an improved position in BLY.
Only investment sentiment may change this stocks direction, as the fundamentals haven't (yet).
Not sure if my clock runs fast or slow, but 3:30 looks like the time....
BLY Price at posting:
8.1¢ Sentiment: None Disclosure: Not Held
