Ann: Beadell Board Encourages Shareholders to Vote at Meeting, page-7

Truly, it is unbelievable that the board continues to argue that this deal is the best outcome.

I love the list of excuses they are coming up with as a reason for the merger. The next few months are not the highest producing months, so.... yep, lets throw up our hands and go with the T/O, because, well... the other 10 years of reserves to be produced (yep, that is right, 10 years at a p.a ratte of 150k!!!!) we just give it up for peanuts.

I find it interesting that the company has not provided any impressive presentations to the market regarding their turn-around-story, which is actually happening. $27.72m in debt payments to come, ok. SO.... what option have you locked in case the T/O does not go ahead Board??? 
I simply cannot understand how this is legal, for a board to so heavily manipulate this situation to ensure the deal goes ahead.
They should have already locked in a debt finance deal if the T/O fails to get the approval of the shareholders, who actually own the company.
Surely that is what must be done if the board is actually meeting the requirements of their job?

The offer from GPL is not fair, so... are their any other offers that are not fair, but... will enable BDR to get through this EXTREMELY DIFFICULT AND OH SOOOOO DANGEROUS A PERIOD.... where production rates are increasing and costs are coming down (HEAVY SARCASM).

Out of interest, I wonder how much cash GPL have now, instead of back in September?
As for using some of PGLs money for increasing reserves, so... as above, BDR has 10 bloody years of it. That is not a priority right now.
 
All I can read is excuses and I am actually really disappointed in the MD. I thought BDR had been given a new breath of life, but... it would seem not.