In the good books
Beadell Resources (BDR) Upgrade to Outperform from Neutral by Macquarie B/H/S: 1/2/0
Exploration drilling is pointing to higher grades at Tucano and satellite drilling around Duckhead is also turning up positive results. The company has also strengthened its North American alignment, Macquarie notes, ahead of a planned listing on the Toronto exchange.
Macquarie suggests Beadell's new sense of direction is gathering momentum. Operational improvements need to be confirmed but the trend is in the right direction. With mine life extensions looking likely, the broker upgrades to Outperform.