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Bluestone Resources Inc BBSRF


Primary Symbol: V.BSR

Bluestone Resources Inc. is a Canada-based precious metals exploration and development company focused on opportunities in Guatemala. The Company’s flagship asset is the Cerro Blanco gold project, a near surface mine development project. The Cerro Blanco gold project is located in southeast Guatemala approximately 160 kilometers (km) by road from the capital, Guatemala City. It is located in the Jutiapa Department, approximately nine kilometers west of the border with El Salvador. The Company also owns a 100% interest in Mita Geothermal through its wholly owned subsidiary, Geotermia Oriental de Guatemala, S.A. The project is a geothermal energy resource located adjacent to Cerro Blanco and is seven km from the Pan American Highway near the town of Asuncion Mita, in the region of Jutiapa in Guatemala. The project is licensed to produce approximately 50 megawatts of power. The project is located in southeast Guatemala approximately 160 km by road from the capital, Guatemala City.


TSXV:BSR - Post by User

Comment by Trg418on Oct 15, 2020 3:22pm
192 Views
Post# 31722619

RE:is anyone just sitting on this one like me?

RE:is anyone just sitting on this one like me?Yes definitely and I'm in for a position of 44k shares and add more whenever I can. The reason for the price being stuck in neutral I think is the market waiting to see if they can deliver the financing package for the mine scheduled in Q4 of 2020. And with a low capex of only $200 million, of which they have half already really (line of credit+bought deal financing in april = 88 million). So I'm pretty confident they will deliver, even more so that this has the financial support and leadership of the Lundins. I also think not a lot of people know about this stock based on the trading volume of it's shares, as well as the lack of comments here but I think that will eventually change too. They are also supposed to initiate early mine activities and place long lead time orders in Q4 of 2020, and release an updated mineral reserve numbers in Q1 of 2021 as they are currently drilling and expanding the resource. The free cashflow of this mine is ridiculously high, even more so currently with the price of gold rising and projected to do so into the future. I think it will be a buyout target for sure once the project is up and running. If not then I hope with all the money they make, it turns into a multi mine company. Either way, this is a 5 year+ hold for me. I hoped that helped, good luck to us:)
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