Ann: September 2017 Quarterly Report, page-2

Hmmmmmmmmmmmmmmm.
I realise that without the if the currency movements had been kinder, the results would have looked a lot better, but... sigh.

Production up. Ore movement down, but to be expected due to the earlier issues of contractors.
Big spend on the plant upgrade, plus power upgrade, which is fine, but they should be explaining that in the highlights, not on page 4.

60,000 ounces for the Dec quarter is a big call, but.. has been done before by BDR in the past. Its all about grade. That will see BDRs balance sheet strengthen by approx AUD $45m. Which, after more plant upgrades and power, plus debt, perhaps will see them in the new year at AUD $40m?

We are already 1/3 through the quarter, the POG is hopefully going to average around $1280.

Next 9 months should.... should see BDR finally, finally enable itself to get rid of most of the debt, tremble exploration and show the market what the project is capable of.

My initial thought was to sell half my position, but... while BDR is a traders toy, managements credibility is now on the line, as in, if they cannot achieve a good Dec quarter, I for one at least, will throw in the towel.