Sydney What did you think of the quarterly report? I am sure...

Sydney

What did you think of the quarterly report? I am sure there are many here who are interested in your views.

Do you still stand by the analysis in your post that there is no need for a capital raising and that Colinchi is wrong?

Are you still holding strong your 3 million BDR shares, or have you dumped them like Colin wisely suggested we do?

For my part I "only" held 260k shares and sold out for a loss. In 2015 I had 1.5m and made good gains, but I have never trusted the management and warned about issues with their mining operations so I just traded the shares. They are not an investment - just a short/medium term spec.

I really did not think they would have such a poor result for the quarter in terms of the AISC, plus forecast 145-155k ounces at USD1100-1200 AISC in CY2018. Given all the projected expenditure and debt they will clearly need a CR IMO.

BDR has never provided a break down of operating costs across its two main areas, milling and mining, but it seems to me its the mining costs that are resulting in a very high AISC. It seems beyond their abilities to get on top of this problem given the high strip ratio and issues with mining during the heavy rains. MACA has not been a success mining in Brazil, so they have added some local mining company, at extra cost no doubt.

I suppose the next time one should have a look at BDR again is after they have done their CR, completed their operational upgrade and have one or two quarters mining under their new improved configuration (assuming they survive that long - seem to be a bit like BLK).

Colinchi wins the prize of Chief BDR Town Crier for correctly warning us of impending doom if we hung around these haunts.

Its GOLD1500USD or bust for BDR.

Good luck in your other goldies.

loki (we need to be very humble when playing in the BDR sandpit, and its kindred doggies)