I know this is an extraordinarily difficult proposition, but when does one attempt to value BYL, or more to the point, what will trigger a re-rate in the value of this company?
The obvious headwind is the disappointing results that McBain continued on, so there are some legacy options there.
But there is a new CEO in Bushnell, so he has a chance with the upcoming result to paint the picture and get us onto a steady footing for FY 17. So PiouPiou I ask, have the necessary write downs and impairments all been taken.? Can the company be profitable? And how inaccurate are the TCE's. Commsec indicates a dividend being paid this year??
I am just getting my ahead across this company again, but my point here amongst my simple musings, is that there is a high chance with any of the following results that there would be a significant re-rate in the co, given our low MC:
- FY 16 Loss is lower than the 10-12m
- Any further small contract awards (particularly in the Gold space, from their reference to last year's AGM. Gold exploration is in the midst of huge invetment again)
- A positive dispute that you have referenced to already in regards to Main Roads dispute
- Any mention of a return or forecast of profitability FY17 or a positive outlook
BYL Price at posting:
12.5¢ Sentiment: None Disclosure: Held
