https://www.miningweekly.com

Beadell's plans at Tucano start bearing fruit

15th February 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold production from the Tucano project, in Brazil, was expected to improve by between 19% and 31% in 2016, compared with 2015 production, ASX-listed Beadell Resources said on Monday.

The company told shareholders that the Tucano mine was expected to produce between 145 000 oz and 160 000 oz in 2016, at an all-in sustaining cost of between $715/oz and $815/oz. This was a decrease of between 19% and 29% over the costs achieved in 2015.

In November last year, the Beadell board and management team underwent a reshuffle, resulting in the appointment of Simon Jackson as MD and CEO.

Jackson said on Monday that the new management team had started a number of initiatives that were expected to increase production, reduce costs and result in more consistent quarter-on-quarter production at Tucano.

“These initiatives will necessarily take time to fully implement and while we are pleased to be already seeing positive results, the full benefits are expected to be seen gradually over time.”

Jackson added that as the operations improved, it would increase cash flow, which would ultimately strengthen the balance sheet and, in turn, allow Beadell to increase discretionary expenditure in areas such as exploration.

“We all understand what needs to take place in the coming year, and we are thankful for the support of all shareholders in Beadell as we move towards achieving our goals.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.054 1.045s - 110pq - 2rq
Subscribe Now