The Eureka Report has once again had an article about BDR The article was "Twin turbo mining" By Tim Treadgold
"PORTFOLIO POINT: A gold mine with an iron ore by-product could be the next 'big thing' on the ASX."
The article goes on to talk about BDRs operations and how unique the company is aiming to be mining gold and iron ore by this time next year.
Here are a few interesting extracts from the article:
"Iron ore is the bonus, which will be mined in association with the gold at Tucano, potentially cutting the cost per ounce by up to $US120, with the essential steel-making ingredient yet again approaching long-term highs.
Beadell?s chief executive, Peter Bowler, describes the iron ore as ?the elephant in the room?, because it is unusual to find commercial quantities of iron ore in association with gold."
"But the plans for Tucano will become clearer over the next few weeks, with a final feasibility study scheduled for completion by the end of the month"
"By this time next year, if all goes well, Tucano will restart production at a rate of about 150,000 ounces of gold a year at an estimated cost of $US517/ounce, and perhaps less than $US400/oz if a joint mining deal is struck with Anglo Ferrous on the iron ore"
"The broking house, Ord Minnett, told clients three weeks ago that if the Tucano resource grows to more than 5 million ounces Beadell will become a takeover target. Ord Minnett value Beadell at 92 cents, with the upside value of $1.25 describing Tucano as ?South America?s next big gold mine?."
Looks like the next few weeks could be very interesting.
BDR Price at posting:
79.0¢ Sentiment: Buy Disclosure: Held
