"Beadell,s deposit sits immediately east of the huge Tropicana gold deposit being developed by angloGold and Independance Group.AngloGold would be the party most likelt to be interested in Beadell,s find. While Beadell,s shares rose 7c yesterday in the wake of the results,it is the company,s Tucano project in Brasil that has driven its surge from 15c in July. Macquarie research began coverage of Beadell in mid-Dec.with a price of 80c in the belief tucano would support a 180000ounce a year goldmine.In its Dec report,Macquarie attributed just $25 million or 4c per share to the value of Beadell,s entire Australian exploration portfolio". IMAGINE WHAT FIGURE MACQUARIE WOULD HAVE PUT ON BEADELL IF THEY REVALUED IT TODAY IN THE LIGHT OF THE TROPICANA EAST RESOURCE ANNOUNCEMENT( OR ALL THE AUSTRALIAN ASSETS). Incidentally,Macquarie was involved in the Tucano Purchase and capital raising from day one.Not only have they invested money in it but their Rio office did an exhaustive due diligence using their local geology team and gave the project a mighty thumbs up!That the SP has more than quintupled since is no surprise.
BDR Price at posting:
76.5¢ Sentiment: Buy Disclosure: Held
