In early 2019, Great Panther acquired ASX-listed Beadell Resources for its Tucano Gold Mine in Brazil. In 2020, the Company announced its inaugural Mineral Resource & Mineral Reserve for the Tucano gold mine in which a 51% reduction of mineral resources was reported. In 2022 the company went bankrupt despite selling its Mexican mines.Now in January 2024 there is talk about restarting the Tucana gold mine.
Interesting as BDR was delisted in March 2019 after the takeover. It must be the higher POG that makes it so attractive, but they are saying there is 4 years mine life there and in the surrounding area. Usually that's not enough, you would want 10 years but this is brownfields, the plant is already established. So it seems this asset was sold off as part of the bankruptcy and the mine lives on.
Regardless, it seems the BDG MD did well to sell off the asset. He is now MD of Carnaby Resources which has Cu Au resources.
BDR Price at posting:
6.5¢ Sentiment: None Disclosure: Not Held
