lordy lordy guys,
hold it there!
shareholders are still waiting for updates?
from top stocks - 24/03/16
BEADELL RESOURCES LIMITED
http://www.beadellresources.com.au/ (edit)
Beadell Resources Limited is engaged in gold exploration. The Company has projects in Australia and Brazil. It has five key exploration projects in Australia with tenements covering over 7,000 square kilometers across three states. In Brazil, the Tartaruga Project covers a 96 square kilometers area, which is located in an accessible part of Tartarugalzhino, 160 kilometers north of the city of Macapa. Together the projects form a portfolio of advanced drill ready targets at the Tartaruga Project in Brazil and Reedy Creek Project in Victoria, and Greenfields exploration projects, particularly the Tropicana East Project adjacent to an emerging gold district in Western Australia. Its subsidiaries include Beadell Resources (Holdings) Ltd, Beadell Resources Mineracao (Holdings) Ltd, Beadell Resources Mineracao Ltda and Beadell (Cracow) Pty Ltd.
and from ...........
"Admin costs weigh on Beadell result"
Nick Evans - The West Australian on March 1, 2016
Beadell Resources has declared a $44.3 million full-year loss, only a week after raising $50 million in a 19.5¢ placement.
Beadell released its 2015 financial accounts after the market closed last night, declaring an after-tax loss of $44.3 million, down from a $49.5 million profit in 2014.
The loss was fuelled by after-tax impairments of $16.8 million on its Brazilian operations,
with $11.8 million related to its ill-fated plan to sell iron ore as a by-product to its gold mining. Beadell declared a gross profit on its mining operations of $51.2 million on sales revenue of $190.6 million. The company said it had lowered production costs by 4 per cent to $139.4 million, despite moving 48 per cent more earth at its Tucano gold mine in Brazil.
But its overall result was weighed down by $18.8 million in administrative expenses, and by a foreign exchange loss of $26.3 million related to its US dollar denominated debt.
Beadell finished December with $9.7 million in cash and equivalents. Last week it closed an over-subscribed $50 million raising on the back of a bullish outlook for the coming year.
The company has $50 million in debt due, including part of a $12.4 million facility with mining contractor MACA, due to be fully repaid by June 2017. The company has said it may use part of the raising’s proceeds to pay down debt."
Only posted this bit as it was the first l had seen on the IO part of the equation and consequent costs.
cheers mb
