News: BDR Beadell Resources Announces Board Restructuring and Mining Contract

July 16 (Reuters) - Beadell Resources Ltd (BDR) :

• SIMON JACKSON, CEO AND MANAGING DIRECTOR TO STEP DOWN
• NICOLE ADSHEAD-BELL APPOINTED CEO AND MANAGING DIRECTOR; BRANT HINZE ASSUMED ROLE OF CHAIRMAN
• EXECUTED LOM MINING CONTRACT WITH U&M MINERAÇÃO E CONSTRUÇÃO S/A (U&M)
• CONTRACT EXPECTED TO RESULT IN US$100 MILLION REDUCTION IN LOM MINING COSTS
• CRAIG READHEAD STEPPED DOWN FROM HIS ROLE AS CHAIRMAN BUT WILL REMAIN A NON-EXECUTIVE DIRECTOR
• EXIT OF MACA CONTRACT RESULTING IN ABOUT US$1 MILLION PER YEAR IN CONTRACT ADMINISTRATION SAVINGS