Beadell Resources Limited (BDR)



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General Information
Company Name: Beadell Resources Limited
Stock Code: BDR
Website: www.beadellresources.com.au
GICS Sub-Industry: Gold
Market Cap ($M): 280
Equiv. Shares (M): 799

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.345 $ 0.350 $ 0.355 $ 0.335 $ 0.350 3,120,955 $ -0.005  -1.429 %

Current Broker Consensus Recommendation more
Recommendation: Strong Buy (1.3333)
Recommendation Date: 22nd Oct 2014
Brokers Surveyed: 3

Company Overview

Business Description:
Beadell Resources Limited (BDR) is a gold producer company. Its primary asset is the Tucano gold project, located in Brazil. BDR also has a portfolio of gold exploration tenements throughout Australia and Brazil.

Strategy Analysis:
2010 has seen a flurry of good announcements made by the company in reference to its Tucano gold project in Brazil. The company is now carrying on with further drilling to ascertain how large the gold mineralization zone is and to determine its economic potential. The company also agreed to sell the Amapa Iron Ore Royalty for $31.25m cash to Anglo Pacific Group. Beadell Resources reported negative cash flow of $16.89m for the quarter ended 31 December 2012. Operating cash flow for the period was $(33.19m). Payments for exploration and evaluation were $(1.05m). Investing cash flow was $(480,000). Financing cash flow was $16.79m. Cash in hand at the end of the quarter was $5.45m.


Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2015  F -- 9.0 -28.6 3.8 1.7 4.8 --
2014  F -- 12.6 -9.7 2.7 -- 0.0 --
2013  A 113.5 14.0 -- 5.7 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F
Beadell Resources (BDR) $264 M -- -0.0971 -0.2856 2.3571 2.6108 3.6545 0.00 0.00 5.06
Newcrest Mining (NCM) $7,496 M -0.0429 -0.2152 0.5162 17.3527 22.1117 14.5840 0.00 0.00 1.85
Northern Star Resources (NST) $758 M 0.2151 2.4252 0.1518 15.9601 4.6596 4.0455 2.73 5.03 6.00
OceanaGold (OGC) $760 M -- -- -0.0875 -- 8.2922 9.0876 0.00 0.00 0.00
OZ Minerals (OZL) $1,232 M -- -- -0.0891 -- 82.1862 90.2222 4.93 4.93 3.68

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
BDR 0.39 2.71 1.16 10.00 1.12
Market 0.90 15.3 1.24 1.72 1.50
Sector 0.70 11.4 0.82 0.95 2.90

Directors
Name Position Start Date
Mr Robert Watkins Executive Director 03 May 2007
Mr Peter Reginald Bowler Managing Director 03 May 2007
Mr Craig Leslie Readhead Non-Executive Chairman 15 April 2010
Dr Mike Donaldson Non-Executive Director 31 July 2007
Mr Ross Kestel Non-Executive Director 29 February 2012

Management
Name Position
Greg Barrett Chief Finance Officer,Company Secretary
Luis Abadi General Manager Operations - Brazil

Substantial Shareholders
Holding Name
46,553,065 (5.88%) Coupland Cardiff Asset Management LLP
91,612,022 (11.59%) Ameriprise Financial Inc and its related bodies corporate
70,546,542 (8.92%) Van Eck Associates Corporation

Calendar of Events
Date Event
26 August 2015 Report (Interim)
23 July 2015 Report (Quarterly)
23 April 2015 Report (Quarterly)
16 April 2015 Report (Annual)
23 January 2015 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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