Although the SP has done nothing for a long time the companies good performance has continued in my opinion. Unfortunately BDR does not control its share price.
A good thing about BDR is that they don't whine about how good the share price could be if only this or that didn't happen. If they did this would be a good indication to sell.
Good things I see happening are - debt continues to be reduced and it should be debt free this year. -they have increased mill capacity at the same time as renewing their mining fleet. So even if grades do reduce gold production will not reduce by the same level - they will finally get iron ore sales in the second half of 2014 - they are (finally) doing more infill drilling to further extend the Duckhead high grade ore. - getting full hydro power in the 1st half of 2015 will have a big effect on cost of production. Electricity costs usually represent a very large proportion of operating costs. Although they are on 25% hydro now I am assuming the balance is diesel generated.
It is interesting to see the appointment of a Chief Operating Officer at the mine site and that they are experienced in underground mining. This is a further positive for the company.
BDR Price at posting:
68.0¢ Sentiment: LT Buy Disclosure: Held
