way way way undervalued! $5 + stock

This is an OP ED only and expresses my view - always do your own research.

BLY.

I am very bullish on BLY - I have a view that BLY will pass $4 in the next week. MDI.TSX Major drilling and other peers have run harder than BLY due to BLY not clearly getting the runs on the board regarding meeting earnings and future earnings.

This will change at the end of NOV as this is BLY's busiest period and 1 y / 2y gfc contracts expire.

Consider this.


1.BLY has minimal debt - sub 70 mil.
2. BLY has put on second and third shifts at its 50% revenue factories in the US and has over 220 jobs being advertised on its site ( www.boratlongyear.com/careers )
3. BLY should pass over 80 rig utilisation this qtr - if a junior mining company has not raised finance whether via debt or stock offers then they should be out of business, credit is getting back to pre GFC levels and due to the capex suspensions during the GFC the lag in exploration and on moving up production has see commodity prices soar due to supply problems. These are not solved overnight! We have a three year catch up on demand at the least - more so if India follows China's example.
4. Confidence in management - are we there yet? I think we are on the way - I would like to see BLY begin to make targeted acquisitions - or you would have to think that MDI would be looking over the fence at BLY at sub $4 - its got to be an attractive target.
5. Site vists/ investor relations - transparency of ops - BLY needs to engage the market - it needs to educate brokers and managers of the business and how it operates. Let's see some broker visits and investor days where market managers can gain an on the ground appreciation of the business.

Finally, the revenue gates, we know PRODUCT (BLY supplies rigs and bits to the world) - how is this division going to fire up? Are we seeing price point increases? What will flow to the bottom-line?

DRILLING SERVICES - Rig capacity at the end of this booking period Sep / OCT / NOV for FEB Drilling - how much pressure is there on supply? Are rigs being booked for mine expansion i.e. BHPB's Chillian copper ops?

INFRASTRUCTURE

The forgotten division - long lag times mean low transparency - but with most of the developed world using new roads/ports and rail to spend their way out of the Great Recession - these projects have a one to two year lead time which points to 2011 / 12 as the rubber hitting the road - how involved is our company in this area ?

INCONCLUSION,

Investors ( of which I am one) - are pleased with recent gains, I am frustrated when you see the chart of MDI at $35 - $37 CD - and here is its major global competitor at $3.80 - I mean COME ON ! - get your investor relations team to actually get managers on the ground so that the complaint of brokers like CITI " no vision into the business" are negated - and let investors know what the GROWTH PLANS are for BLY. You got BLY off the canvas - now get back into the fight!


Jake.


DISCLAIMER: -
I hold BLY and this is my own view, it does not constitute an offer to acquire securities