Beadell Resources: Results 2013

The first full year of operations at the Tucano gold mine in Brazil was an outstanding success for Beadell Resources. Full year production of 182,000 ounces resulted in revenue of $250m and net profit was $114m, translating to earnings per share of 15 cents. Dividends are unlikely to be paid until the company clears its outstanding debt. Unusually, gold ore at Tucano sits next to neatly defined layers of high grade iron ore. The company has now installed processing facilities to earn revenue from the iron ore by-product. This, together with high grades and large volumes, explain low total...

The first full year of operations at the Tucano gold mine in Brazil was an outstanding success for Beadell Resources. Full year production of 182,000 ounces resulted in revenue of $250m and net profit was $114m, translating to earnings per share of 15 cents. Dividends are unlikely to be paid until the company clears its outstanding debt.

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