Cheers chris. Good summary. I was disappointed overall but it is...

Cheers chris. Good summary. I was disappointed overall but it is refreshing to see a company be candid with their issues and allow holders to make judgements based on the facts and not on spin from analysts/brokers. I did not expect BDL to spend 25m in the half year on capital goods. thankfully this has been reduced by 80% to 5m in 2H.
It seems some rigs were poorly managed and BDL were slow to cotton-on.... but they have got weaving late last year and better productivity expected. Geez..... coking coal has taken a hit!! fortunately IO and thermal coal is not as badly affected by world recession.
Improved cashflow, more cash in bank, debt under control means BDL will still be around when pick-up eventually comes. I am holding and still feel BDL is def a TO possibility. NTA at 13.8c/share and SP of 3.9c. Surely someone will simply buy the entire outfit for 15-20c?? Who knows.