close of all hedges, page-13

IMO this is good news for BDR and again shows the acumen of management.

I think having a war chest available to them if opportunities arise in the near term is a good thing. Have a look at the opportunistic acquisition that CAS made recently on a high grade Brazilian good tenement from a cash strapped TSX-V company. Paid cents in the dollar IMO.

There is likely to be many similar analogues for BDR to look at in Brazil if they so choose.

Another interesting possibility, again referencing CAS, is their Borborema development project which is very similar to BDR's project (without a high grade Duckhead) relatively nearby in Brazil.

I think a potential JV or project acquisition with/ from CAS is left field but not out-of-the-question.

Regardless. Good times ahead for BDR shareholders and then prospects of a dividend policy early in the New Year.

There must be lots of people like me that have accumulated relatively good sized holdings during this 58-70c range bound trading and have effectively taken these shares out of the free-float - at least for prices sub-$1. The shorters may find it a bit trickier to cover than they were anticipating, especially if POG does break out. Here's hoping.

Cheers
John