That's my fear as well! Golden Harp may have said "no", due to Beadell's predicament (cash burn leading to insolvency probability). BDR may have been rejected by Golden Harp, not the other way around. Certainly a possibility here. After-all, Sprott pulled out as well, and they would have conducted proper due diligence to arrive at that decision.
Now re-reading the announcement again, it does say "mutually terminated" between Golden Harp and Beadell. This expression suggests some open and declared understanding between the two parties about the situation, which concluded with a not-to-proceed decision. Unfortunately, there is no explanation given in the announcement that formed the basis for the decision. And a search on news reports and interviews on the web doesn't surface any further details.
Of course, the announcement would have probably been cleansed of any specifics and phrases that would directly suggest or imply that Beadell is officially in trouble. So we are left with trying to interpret the true meaning of "mutually terminated".
BDR Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held
