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6.5¢ beadell resources limited

"Also, another comment that came out of the AGM is that there is...

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HCGhost

12,484 Posts.

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09/06/15

14:26

Post #: 15435341
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Originally posted by riskreward1 ↑

I agree Kuddles. I for one have no idea how to run a gold mine in Brazil so I refrain from commenting about management performance from an mine operations perspective. I do however agree with others that disclosure and managing of expectations could be better.
If it was so easy to run the mine, we wouldnt see MACA struggling the last 6 months. It could be argued that MACA has not done any better than BDR thus far and they are supposed to be the best in the business.
Also, another comment that came out of the AGM is that there is virtually no open cut mining expertise in Brazil. There are only 2-3 open pit mines in Brazil??. Most of the mines there are underground, therefore, finding good open cut mining resources is a challenge in Brazil. Moving forward though, when BDR goes underground, there should be an adundance of know how and expertise in country to mitigate risks of under performance.
Instead of crucifying management, I have decided to give BDR until the end of Q4. If they are still under performing, then i think it would be safe to say that the company itself is not a viable investment proposition being based in Brazil and anything management do will be a failure due to this fact.
As of now, I believe BDR will turn it around and our long suffering shareholders will get some sort of reward towards the end of the year, therefore the current risk/reward sp wise is very very attractive.

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"Also, another comment that came out of the AGM is that there is virtually no open cut mining expertise in Brazil. There are only 2-3 open pit mines in Brazil??. Most of the mines there are underground, therefore, finding good open cut mining resources is a challenge in Brazil."

If that was truly said by management at the AGM my grave concerns are now another 6 feet deeper.

Last edited by HCGhost: 09/06/15

BDR Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
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