I have just taken a position in BSL over the last few days. Seems like a lot of unhappy people on this thread, I know the feeling but there are lots of beaten up companies on the ASX which are making strong returns for new shareholders. This is one I took a position because it is heavily leveraged to recover in the Australian economy and has a competitive cost steel business.
I recently did the same in PMP (out now) and SGN (still holding). Both were beaten up badly, both tightened costs, both had fed up shareholders etc and both now moving up hard, and I hope BSL soon to follow. There is a bit of short selling but has to stop sometime. Looking for more similar companies as well.
BSL Price at posting:
$2.62 Sentiment: ST Buy Disclosure: Held
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