Sufficient reason for T/H though?
Hopefully not capraising!
Impairment will be lowered as estimates were made before the recent contract announcement which included using some previously idled equipment although the bank may be keen to reduce exposure by making BYL raise capital to bring them back within their covenants.
The thing about starting a nice job like the one recently announced is the upfront cash that needs to put in before getting paid and now a couple of weeks out from pumping this cash in we are in a trading halt
I don't recall any announcement that they were back within the lending covenants but I would love to be corrected on this
BYL Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
