More Money !!!!New Gold just sold all of its shares of BDR of austrilla it got when it sold its brazilian property back in the early part of this year
should be between 50-60 million cdn dollars
what are they going to do with it ?
ASX ANNOUNCEMENT 1 December 2010
ASX Code: BDRNEW GOLD INC’S SHARES SOLD
Beadell Resources Ltd is pleased to announce that as a result of the Company waiving New
Gold Inc’s 12 month voluntary escrow on its 18.5% stake in Beadell, the entire holding has been
transferred to various Australian and international institutional investors.
Managing Director, Peter Bowler said “We are very pleased with the high level of demand for
these shares and the calibre of institutions that are now on our share register. New Gold Inc’s
sale of these shares is in line with its strategy to internally fund their ongoing mine development
whilst the outcome for Beadell is that a substantial overhang in our shares has been removed.”