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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 baystock1on Dec 22, 2022 7:26pm
243 Views
Post# 35188373

Belo Sun without the permitting risk

Belo Sun without the permitting riskThe same geos who found Belo Sun's deposit have discovered another deposit in Brazil and this has been rolled into Cerrado Gold which has experienced management formerly with Desert Sun and Largo. Cerrado Gold is selling for slightly higher market cap than Belo Sun but their Brazil deposit has little to no permitting risk. Short summary of Cerrado below: >> Producing 50,000 oz/yr gold in Santa Cruz province of Argentina and expanding production to 70,000 oz/yr next year and 90,000 the year after. Have largest land position of any company in the Deseado Massif gold belt in Santa Cruz. This Argentina mine protects the downside as its replacement value is close to $200 million. The huge upside comes from their Brazil mine which is projected to be one of the lowest cost gold producers in the world at 150,000 oz/yr at sub $500 all in costs for 5 years and only $125 million Capex with payback of just 1.3 years at $1600 gold price. Huge exploration upside at both projects. Experienced management formerly from Desert Sun. Insiders own around 40% of the company and so are committed to finance their aggressive growth plans with minimal share dilution. By end of 2025 they are aiming to produce 250,000 oz per year and generate $250 million/yr pretax cash flow from both mines. <<
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