BDL fallen from 35.5c to 3.9c in past 12 months. NTA alone would...

BDL fallen from 35.5c to 3.9c in past 12 months. NTA alone would be worth far more than SP. In addition they do have many contracts with the big names in mining (see BDL website). But mkt has given-up on this lot. To my thinking now is the time for someone to step in and buy it for a song. So who could/should?

ASL. Are the obvious company as they work on similar/same projects and familiar with equipment etc. Unfortunately ASL spent big buying new gear using USD and unlikely to stretch the balance sheet any further.
BLY. Too many dramas of their own and sacking staff in droves.
MIN. Hmmmm.... cashed up but the cancellation of WVL contract has slowed their expansion plans. but still a possibility. V. astute management allwaaaaays on the prowl.
AAX. good company but concentrates on design engineering side.
AJL. CSG drilling experts bar none. Pleeeeenty cash in bank. Maaaybe??
SDM. A coal specialist but cashed up and looking to increase exposure to long term contracts outside of design/construction. Not inconceivable but RIV holdup has slowed their progress.
CDD. Nope. too left field but concede i don't know company well.
COF. ??? They design/manufacture mining gear. long shot
IDL. Could run BDL in their sleep but Huddings(sic) blow-up has caught them gasping and thinking short term only.
MND. Stacks ofcash but hategetting their hands dirty. Pity.
NWH. plenty expertise but huge dramas of their own.
PDO. geez... BDL could just about take them over!
SWK. Massive cashflow probs. great horse though.
VMG. rushed into mining engineering too aggressively got swotted.
WOR. no chance. these guys cannot work outside of air conditioning.

who is left.
MAH. If only they had more confidence right now. Tried to buy ASL at top of mkt and fortunately for MAH they failed. But never can discount this smart firm. Low debt means they can swallow BDL. But...

leaves the 4 big guns.
LEI. BDL too small for this 600lb gorilla???.... but they may nudge MAH to act.
TSE. Canada oil sands venture turned to mush along with their SP. Naive mangement in denial. If they do.... you can bet they'll offer too much.
DOW. DEf def a possibility.
UGL. def def also a possibility.

Now is the ideal time for a contrarion play. Only a few mining engineers are going at anything close to full pace. Hence, competition to buy BDL virtually non-existant. Who knows??? Very quiet re TO of any sort. tomorrow BDL release interim result. I expect 2.5c EPS for the full year. Watch this space.