News: BDR Beadell Resources Announces Board Restructuring and Mining Contract, page-39

I think the bottom is in now: BDR's new leadership have been transparent, confessed and planning to make it right. The new CEO incentive package is based on share price upside and Nicole Adshead-Bell already has skin in the game.

Costs have now been crunched: mining contract simplified, executive remuneration halved, admin cost eliminated, business model simplified, project contractor sacked for breaches, VAT credit $18M USD sought from Brazil Govt. Once the Canadian listing is complete the WA office just needs to be a post office.

Workforce Rally: What typically happens with these events is the workforce rally's to the challenge and productivity lift substantially and they end up driving the business improvement themselves. This leads to high performance culture at the mine site if the leaders communicate effectively.

Finally turnarounds do occur: Look at DRM and what Leigh Junk as done so far. There is risk but there big rewards.