BCD, BCD RESOURCES NL

[veeone]

Not following just a article of interest. V1

The Beaconsfield gold mine where a rockfall killed one miner and trapped two others in 2006 is expected to close next year because the remaining ore is not viable to mine - despite current high prices. BCD Resources NL, formerly Beaconsfield Gold NL, said on Wednesday that the mine in Tasmania's north was due to close at the end of June 2012.The company said it was not viable to mine below the current depth of 1,210 metres at today's gold price.
"Below the current base of the mine, gold mineralisation thins and further development is not viable," BCD Resources said in a statement.
"The company will continue to review the mine plan and mine life should the gold price continue trending upwards."
Production costs had improved and were now below $A1,000 per ounce, compared to the spot gold price in Sydney on Wednesday of $US1,722.60 ($A1,722.51).
BCD Resources chief executive Peter Thompson said all employees' entitlements were guaranteed, with processing of ore expected until June 2012. There are 103 full-time employees at the mine as well as 16 casuals and 32 contractors.
Chairman Michael Botting told the company's annual general meeting on Wednesday that the mine was expected to be significantly cash positive as activities wound down. "In the longer term, the board looks forward to re-utilising its major asset, the Beaconsfield process plant, by leveraging into an undeveloped refractory deposit," Mr Botting said. "The company is involved in confidential discussions with the owners of such deposits." Mr Thompson said BCD Resources was assessing other production options, including treatment of a gold tailings deposit and development of the Pinafore open pit gold resources at Lefroy, 40km from Beaconsfield.
Mining was restarted at the Beaconsfield operation in June 2007, 14 months after the fatal rockfall, with the company employing a remote mining method in the high-grade zone where the incident occurred.
The company's shares slumped 0.1 cents to 0.5 cents on Wednesday.
http://news.smh.com.au/breaking-news-busin...1130-1o6qx.html

[Mork]

In Reply To: 7's post @ Aug 11 2011, 03:41 PM

007, just doing back of the envelope calculations, i'm guessing they can get to approx 20,000 ounces @ $800 cash cost per qtr based on the higher grades. If they achieve this i think it can do much better than 3cents

[0007]

Mork, there seems to be a bit of interest during the last couple of days, I do hope it keeps going. Some months back it did have a good run reaching some 3c. Let us hope so

[Mork]

Back in May 2010 BCD ran to +15 cents on discovery of its high grade western zone.

BCD have said stopping of this zone has/will start in august. I'm looking for a jump in grade to +10%, big increase in produced gold with a subsequent big reduction in cash costs. They should go from making almost no money to large cash margins very quickly.

bought some at 1.1 and some more on the breakout at 1.3 this morning. should have lots of upside from these prices?

[0007]

In Reply To: nifty49's post @ Oct 12 2010, 06:31 AM

N49, <I did think the merger was a marriage made in heaven!>
I do agree but it was, is better that the alternative. Quite a huge move today. Who knows. Where there is smoke there is hope. So let us hope so

[nifty49]

VERY DISAPPOINTED in BCD if what I red in the press is correct.

I did think the merger was a marriage made in heven!

Nifty

[Mork]

In Reply To: chookboy's post @ Aug 23 2010, 05:31 PM

BDG has persistantly been shorted since the takeover/merger - on many days the short sales are 50%+ of reported sales.
My guess is BDG will slowly slide downwards prior to the merger being completed. The BCD discount to 0.72 BDG should shrink as we get closer to Nov, as those shorting BDG cover there position by buying BCD.

[chookboy]

In Reply To: nifty49's post @ Aug 22 2010, 07:43 AM

Any thoughts of topping up?

BCD @ 12cents equates to almost a 10% discount to .72 BDG

[nifty49]

In Reply To: chookboy's post @ Aug 21 2010, 05:33 PM

I am happy to become a BDG shareholder, so SP does not matter to me....

Nifty

[chookboy]

In Reply To: nifty49's post @ Jul 21 2010, 06:16 PM

If merger goes ahead then .72 Bendigo shares per BCD = approx. 13.5 cents per share but we are still below that. Any thoughts on the current or future price?