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Belo Sun Mining Corp T.BSX

Alternate Symbol(s):  BSXGF

Belo Sun Mining Corp. is a Canada-based development and mineral exploration mining company. The Company is advancing Brazil's undeveloped gold deposit at the Volta Grande Project in Para State. The Volta Grande Project is situated in the Tres Palmeiras greenstone belt in Para State, Brazil. Although the project's mining license covers 2400 hectares (24 square kilometers), the actual area dedicated to the mining operation is much smaller, encompassing only about 10 square kilometers. The Volta Grande Gold Project is accessible by both road and river. Altamira is a major regional center with a population of 150,000 and is serviced by a local airport and the Trans-Amazonian Highway. The Volta Grande Project's mineral resources are divided into two areas: the North Block and the South Block. The North Block comprises four zones: Ouro Verde, Junction, Grota Seca, and Greia. The South Block is situated approximately 10 kilometers to the south-east.


TSX:BSX - Post by User

Post by SIGG1on Dec 13, 2022 10:14pm
249 Views
Post# 35170007

Tagliamonte may be required to sell some or all of the commo

Tagliamonte may be required to sell some or all of the commo
The heavy selling this morning could have been initiated by Tagliamonte to clear his debt.


from the November 7th press release 

To date, Mr. Tagliamonte has repaid $3,871,878 of the principal under the Tagliamonte Note, paid $349,037 of interest and the current outstanding principal amount is $500,000.

Following discussions between the board of the directors of the Company (the “ Board ”) and Mr. Tagliamonte, the Company has agreed to further amend (the “ Third Amendment ”) the terms of the Tagliamonte Note effective October 23, 2022 in order to extend the maturity date to October 23, 2023. The Company has no current intention to further extend the maturity of the Tagliamonte Note and the Company understands that Mr. Tagliamonte may be required to sell some or all of the common shares acquired using the proceeds of the Tagliamonte Note to fund the repayment of amounts owing thereunder to the Company on or prior to its new maturity date.

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