I agree, this may undergo a recapitalisation (which I will...

I agree, this may undergo a recapitalisation (which I will definitely support).

From my "on the ground" research (talking to contractors, distributors, trade journals, suppliers etc.) things have been picking up the past month in Australia and both North and South America. More importantly in my view are the American and African expansions - Australia will pick-up after the wet-weather post Jan/Feb 2014, and currently demand is edging higher.

Also, many of Boart's rigs are already on site sitting idle - the business division majors are telling them to wait for the budget to flow through. The budget has been communicated ($244 Billion to 2015), and now activity can start again. This can only be understood if you look at Boart as a company, and how a company like these function.

IF Boart can get their account receivables down, and generate liquidity from the new key wins in Middle East, Africa and South America, they're good to go - otherwise, you are correct, definitely recap ala 2009.

Time will tell. And please do your own research, as I have.


PS prior post I accidently clicked ST Buy - this is a LT Buy