Ann: Trading Halt, page-212

From The Western Australian

Beadell set to raise $40m
Nick Evans
February 19, 2016, 10:06 am

"Beadell set to raise $40m.
New Beadell Resources boss Simon Jackson has moved to take advantage of the lift in gold stocks, launching a $40 million capital raising to bolster the Brazilian gold miner’s balance sheet.
Mr Jackson took over from founding managing director Peter Bowler late last year, amid sweeping board and management changes.
Its shares were trading at only 15¢ at the beginning February, but the gold price surge helped lift its stock price to a close of 24¢ last night.
The company called a trading halt this morning and is understood to be seeking $40 million at 19.5¢ a share via a placement through Hartleys.
Beadell is flagging the potential retirement of some of its $56 million of debt through the 205 million share placement.
It says it will use also use the funds to back exploration around its Tucano gold mine in Brazil, in an effort to bolster its mining inventory and extend Tucano’s life.
Beadell is still to release its full year financial report, but Tucano produced 122,292oz in 2015 at an all-in sustaining cost of $US1006/oz.
It has flagged production of 145,000 to 160,000oz this year, at an all-in sustaining cost of $US715 to $US815/oz."

cheers