AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
On December 7, 2018, Beadell Resources (ASX:BDR) has made an announcement and issued a press release. The release contains information related to the non-revolving term loan. The press release stated that Great Panther Silver Limited as well as Beadell Resources Limited, both, have signed an agreement and, as a result of which, Great Panther would be giving the non-revolving term loan to Beadell as well as the subsidiary of Beadell named, Beadell Brasil Ltda. The principal of the mentioned loan would be US$5,000,000. The press release which was issued also stated that loan proceeds would be deployed by Beadell Brasil Ltda towards the requirements with respect to the working capital. As per loan agreement, the loan which is being advanced to the Beadell Resources as well as its subsidiary would be carrying the rate of the interest of 14% p.a. (in arrears). The term which has been decided is till 15 January 2019.Â
We would now have a look what the management of Beadell has to say about the non-revolving loan which has been advanced. The top management of Beadell reflected favourable views about the loan. The management also stated that its cash flows got the hit in the month of the November thus impacting the capability of the company to work for the higher-grade sulphide ore which was anticipated by the company.
Earlier (on September 24, 2018), Great Panther as well as Beadell, both, have agreed for the deed, as a result of which, they would be combined as Great Panther had decided to acquire Beadellâs outstanding shares. Out of combined entity, the shareholders of Great Panther would be owning 62% while the remaining (i.e. 38%) would be owned by the shareholders of Beadell. As per the same release, the present management of the Great Panther would be taking over the charge and thus, would be handling combined entity. The Chief Executive Officer or CEO as well as President of the Great Panther named âJames Bannantineâ happens to have the strong experience in Brazil. Additionally, he is also well-versed with the Portuguese language. However, Beadellâs managing director as well as the CEO named âDr. Nicole Adshead-Bellâ would also be coming to Board. The release also stated that this transaction is anticipated to be wrapped up in the month of January 2019 and the voting would be conducted either in the starting of the January 2019 or in the end of December 2018.
Let us now have a look at the performance of Beadell Resources Limited today as well as its returns in the past few months. The stock price of the company ended on the positive note as it has ended todayâs session by rising 2.222% intraday. The stock closed at A$0.046 per share. The market capitalisation of Beadell Resources Limited stood at $75.31 million. The stock price of the company is trading towards the lower range. In the past three months and one month, the stock has delivered the returns of -2.17% and -13.46%, respectively.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
