This latest leg down is to flush out all the high cost producers who were hanging on despite making loses over the past year or being subsidised by their governments. Once they shut down for good over the next several quarters its highly unlikely they will re-open once commodity prices rise again as they will. Those in the 4th quarter of the cost quartile are goneski. Will BKN ride this out and sell assets before debt's are due ? When are Debts due - where is that info and those banking covenants. Cant buy whilst that info remains illusive.
BKN Price at posting:
51.0¢ Sentiment: None Disclosure: Not Held
