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News: BDR Beadell Resources Announces Board Restructuring and Mining Contract, page-13

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sircorp

13,234 Posts.

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16/07/18

14:03

Post #: 34369158
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Originally posted by worzel1 ↑

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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The Company has also terminated the project management contract for the Tucano Plant Upgrade Project ? means Upgrade is Half Completed
..
Another "On Time On Budget" Story Gone Horribly Wrong.
..
Get Ready for anther Capital Raising. Low Gold Price and Bad Management not helping either.

BDR Price at posting: 5.5¢ Sentiment: Sell Disclosure: Held
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