Beadell Resources acquires Amapari Gold Mine and Iron Ore Royalty

Beadell Resources (ASX: BDR) has completed the acquisition of the Amapari Gold Mine and Iron Ore Royalty.

The Amapari mine is an open pit, heap leach gold facility located 15 kilometers from the town of Serra do Navio in Amapá State, in the Amazon region of Northern Brazil.

A portion of the cash proceeds from the recent placement combined with Beadell scrip have been used to finalise the acquisition with New Gold Inc (NYSE AMEX: NGD, TSX: NGD) for all of the issued capital of Mineração Pedra Branca do Amapari Ltda (MPBA) incorporating 100% ownership of the Amapari Gold Mine and the Amapá Iron Ore Royalty.

Peter Bowler, Managing Director of Beadell said “we are now in an excellent position with a solid share register and strong cash balance to fast track the feasibility study and pursue the recommencement of gold mining operations at the Amapari Gold Mine whilst concurrently enjoying substantial monthly cash inflows from the Anglo Iron Ore Royalty.”

As previously announced the company intends to implement a Share Purchase Plan (SPP) to raise up to $5.0 million. Under the SPP each eligible shareholder will be entitled to subscribe for up to $15,000 of new Beadell shares at a price of $0.15 per share.

The company reserves the right to scale back applications to remain within the $5.0 million limit for the SPP.

http://www.proactiveinvestors.com.au/companies/news/6403/beadell-resources-acquires-amapari-gold-mine-and-iron-ore-royalty-6403.html