Why do I do it?......I'm just fed up with being inflicted with information that is just wrong..... Last year BDR allocated costs to inventory that the auditors should have prevented.....this year a $60M correction is posted.
Now we have resources misstated. Last year the company claimed a 11% increase to resources and this year they claim a 420,000 ounce increase to resources.....They are the same resources claimed twice!
Can the power of HotCopper be leveraged for the benefit of small shareholders?....
Below is an email addressed to Simon Jackson simply asking that the information be corrected. It just needs to be copied and pasted......add in the cc to fairfax and it may get a reaction....
Who knows, if it lands in the fairfax in-box 10+ times it may even get some visibility...
Company email address: [email protected]
Copy in: [email protected]
########
Title: Incorrect Information Unacceptable – HotCopper Investors Wanting Change
To: Attention: Mr Simon Jackson – Managing Director
Cc: [email protected]
Dear Mr Jackson
As an active investor in the Australian stock market I rely heavily on the quality and accuracy of information released to the market by listed Australian companies.
The resent company presentation released to the market states that Beadell Resources Ltd increased resources in 2017 by 420,000 ounces at a cost of $10 per ounce. This is not consistent with information contained in the official resource and reserve reports released by the company.
December 2016 resources are officially stated at 3.92 ounces. June 2017 resources are officially stated at 3.73M ounces. This is a decline of 200,000 ounces.
Can you please update the market with the correct information.
Yours sincerely
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