From the announcement:
The Company has also terminated the project management contract for the Tucano Plant Upgrade Project on the basis of a repudiatory breach of contract by the contractor. Tucano site personnel have assumed responsibility for completion of the Project, including procurement and financial control. This will reduce management fees incurred in connection with the Project. Tucano site personnel are assessing the status of the Project and a detailed update will be provided when this assessment is complete.
This sounds like cost blow outs to me.......so much for on time and on budget.
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- News: BDR Beadell Resources Announces Board Restructuring and Mining Contract
News: BDR Beadell Resources Announces Board Restructuring and Mining Contract, page-12
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