Beadell Resources (ASX:BDR) has provided an update on its activities in Brazil. The company has announced a production of 36,200 ounces of gold in the second quarter of this year at its 100% owned Tucano project in Brazil. The company is pleased with the progress as the CIL plant reached a throughput of 4Mtpa at the end of June, which is approximately 14% above name plate capacity.
Beadell currently has cash and bullion on hand totaling $37M and is obviously expected to increase further as the company has a healthy operating margin.
The company expects to receive the permits to start mining the Duckhead open pit where Beadell has encountered extremely high-grade intervals. This should obviously have a positive impact on the production of Beadell.
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Disclosure: The author holds a long position in Beadell Resources. Please see our disclaimer for current positions.
