Beadell Resources Limited (ASX:BDR) has started its mining partnership agreement with MACA Limited (ASX:MLD) which will result in about $40 million being put into Beadell’s bank account. Beadell’s Managing Director Peter Bowler says
MACA’s cash injection, combined with unusually high gold sales expected this quarter, will provide balance sheet strength and bolster the company’s cash position.
Mr Bowler has flagged an outstanding quarter ahead with high gold grades being processed from Beadell’s open pits.
mr market liked it ..as Shares in Beadell Resources rose 9.8 per cent to close at $0.28 following yesterday’s announcement
BDR Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held