Yes and on Page 27, it goes to touch on as to why in this environment, BLY can be shorted – “Debate over resource rebound”, and more telling to “HOLD’ers” is on Page 7, “Commodity prices plummet”. Especially, and I quote, “mineral exploration expenditure fell 18.4%, or $151.7m to $672.2m in the 3 months ending March 31, compared to the previous quarter”. It would’ve have been more informative if the AFR had included a YTD updated on ASX capital raisings for the industry.
There is no news or definitive data anywhere, which states that the industry parameters that BLY operates within are picking up. The recent Director purchases are fine, but it goes against all industry indications. Time will tell as to why they did it now, but understandable after the low confidence post AGM (not so much a PD). BLY’s SP will continue to slide, even though there is an occasional touch of Green.
BLY Price at posting:
74.0¢ Sentiment: Sell Disclosure: Not Held
