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06/01/18
20:10
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Originally posted by colinchi
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I would say about 18 months ago
I was a pretty strong beleiver in BDR
But I was never as gullible as some now holding.
To think a good quarterly report could be coming .....WOW
BDR have already stated quarterly guidance has been missed by 10k oz.
2017 production has also missed guidance.
Production down under 135k oz for full calander year
emember how the company had turned around........yeh right
Dec quarter 2016 should be enough to make anybody shake their head.
42000 oz with an aisc at $709 per oz cash position dropped $8 million.
Understand that 4 quaters like this would burn $32 million cash
At this stage I would think 168000 oz would be as as good as it could ever bE
I admit a small amount went to pay debt.
But debt goes on forever with BDR
This is the last 4 quaters
In Dec 2016 quarter they deliver 42000 oz with an aisc of $709 having a cash position of $36 million
That meant cash burnt was $8 million
In March quarter they deliver 28500 oz with an aisc of $1161 having a cash position of $55million
Having raised capital of $51 million ...That meant cash burnt was $32 million
In June quarter they deliver 23700 oz with an aisc of $1558 having a cash position of $38 million
That meant cash burnt was $17 million
In Sept quarter they deliver 28700 oz with an aisc of $1264 having a cash position of $18 million
Having raised capital of $51 million ...That meant cash burnt was $20 million
Bringing last 4 quarters to 123000 oz with an Asic of around $1150
Burning through $77 million
Guidance was 140k to 150k
Even with an extra 10000 oz this Dec
Production is less than 135000 oz
A raising POG is the only thing that can keep these guys afloat
But imagine what a raising POG will do to other goldies.
Whatever happens this year BDR wont be the best performing goldie on the ASX
Cheers
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Great post Col, I Couldn't agree more, with this post! But people invested in bdr will have to learn the hard way, like I did! I sold my bdr shares at a big loss last year and moved all my finds into Rms and never really looked back! Since then Rms has become a multi mine 200,000 P.a producer, with a market cap of 200 million! Yes there mine life's only 4 years! But Having a long mine life means nothing if the mines not profitable! Maybe bdr will prove me wrong, but this stocks way too risky when compared to the likes of rms or rsg. Cheers ST