Bluestone Resources – An overview of the move toward production at the Cerro Blanco Project in Guatemala
Jack Lundin, President and CEO of Bluestone Resources (TSX.V:BSR – OTCQB:BBSRF) joins me to recap the Cerro Blanco Project in Guatemala and the focus on developing an open pit mine on the 3million oz gold deposit. We discuss the importance of changing the mine plan to an open pit mine instead of an underground operation. I also have Jack outline the additional steps and times frame for development into production.
If you have any follow up questions for Jack please email me at Fleck@kereport.com.
Click here to read over the Bluestone Resources Corporate Presentation.
Did you know biden is proposing to give Guatemala $310 million ?
He seems to think this will reduce illegals.
Good update on Bluestone Resources. I’m more constructive than some are that Guatemala is turning the corner in relation to the mining industry, now that their politics has calmed down some. I see the prime mover as being when (PAAS) Pan American Silver’s Escobal project (previously held by Tahoe) finally gets things worked out to go back into production. If Escobal gets the go ahead, then it should bold well for the mining sector in Guatemala.
As for (BSR) Bluestone Resources Cerro Blanco project — it is very robust with good economics, and moving towards the path to production. There is community support for it because some of the money will go to local schools and infrastructure, and their Mita Geothermal power project will bill giving back to the community’s power grid and offsetting some of their power requirements, which is helpful with the new ESG industry trends.
Another company in Guatemala that I like on the exploration side is (VG) Volcanic Gold, run by Simon Ridway (of Fortuna Silver fame), who’s team actually made the initial discoveries of both Escobal and Cerro Blanco mentioned above, but they just didn’t drill deep enough to make the motherlode hits. This will be 3 times a charm for them, and they’ve learned a lot by seeing how those other 2 deposits developed, that they can utilize as they explore this year. VG just started their drill campaign.
(VG) (VLMZF) Volcanic Gold Mines Commence Drilling at Holly Project, Guatemala
28 Apr 2021
https://www.volgold.com/news/2021/volcanic-gold-mines-commence-drilling-at-holly-project-guatemala/
Hey Ex, Gunpoint Exploration has a property that is completely surrounded by Tahoe Resources Escobal Property in Guatemala. Takeout……. DT
http://www.gunpointexploration.com/properties/guatemala/el_escorpion/
LOL!
Only now Escobal is owned by Pan American and they have a mill on their property. Gunpoint has warrants at 1.50 and the stock is currently selling at 67 cents CDN. Looks good to me! DT
The warrants for El Scorpion expired in 2017, I don’t know whether this site has been updated or the warrants were exercised. I must do some more Due Diligence. Gunpoint Exploration, GUN-V. DT
Hi DT. Yes, I mentioned in my first paragraph of the Guatemala rant that I saw Escobal held by Pan American (previous Tahoe before their merger) as the prime mover for the area. I had also mentioned that Simon Ridgeway at VG and of Fortuna Silver fqme initially did the exploration and discovery at Escobar, just like at Cerro Blanco, but they didn’t drill deep enough at either to hit the juicy grade. They won’t be making that same mistake this time at their Holly and Banderas projects.
I had forgotten about Gunpoint though. That may be worth doing a little digging around on research as to where their project sits today.
For now both Bluestone and Volcanic Gold are my only 2 Guatemalan exposures. 1 is a solid developer, and the other a grassroots explorer.
Soon as I get through this tax season, I am going to look seriously at picking up Bluestone again. Today I decided to sell Roxgold until their situation works itself out and took the proceeds and added to Ely, Group Ten, Telson and Labrador. Labrador is getting a little excited about something…visions of the next New Found Gold. We will see…
Good picks and strategy David. Yeah, I sold 1/2 my Roxgold yesterday, because with it tethered to Fortuna Silver’s share price, and any potential weakness that the PMs may face in the near term, I figured it was best to bank some profits. I’m leaving the other 1/2 of my Roxgold on to ride, in case a different company presents a superior offer. Roxgold is one of the better quality single asset producers, and they were ramping up their 2nd development project towards production, so I don’t like that they got picked off early in this cycle before all that came to fruition, and I still thought they had much further to run, especially when gold moves back higher. A 40% premium isn’t that sexy of an exit, but I’m still hopeful another big boy miners will pop in with a 50-60% premium offer to outbid FSM.
I like and have positions in Ely Gold and Group Ten, but don’t in Telson or Labrador, but have considered both as potentials. Right now I have to cull the herd a bit with my number of positions, so I guess a little more M&A would be nice to see to provide exit strategies and free up more funds to redeploy.
I have been adding to Group Ten periodically and it is finally moving. Maybe Biden can pump infrastructure tonight and give it some more boost.
Silver Viper has been beat up lately and I resisted selling. Took some profits and it is showing signs of life today. Labrador showing +18%… I keep waiting for the dump…but, not so far
Yeah, I’ve never been that animated by Silver Viper, run by Gary Cope’s son, but haven’t taken a close look in a long while, so may need to take another look to get an update.
At this point my portfolio is overstocked on silver mining exposure, with 2 dozen silver stocks at various stages of the mining lifecycle. Aside from those positions, there are too many other silver miners waiting in cue on my watchlist for if I rotate out of any of those.
When Silver eventually goes back up to test $30 again (maybe in later this year, then it could easily jump up into the mid $30s and that should turbo-charge the silver miners and send them up multiple-fold.
Looks like we have to play “attack the metals” to make the Fed feel they control the world…again. Let us see what unclear words they issue today.
The more Powell answers questions, the better things get…for my account.
I give little thought or credence to “pumpin’ Powell” or any of the Fedbabble. When they actually do anything significant with policy (cuts or hikes) then that is relevant.
KTN is about to dump—–should then be a good buy.
Good to know…thanks.
Maybe. Today was a small breakdown of sorts with the lowest daily close since late January so I’d watch for a single close at .295 or lower. Silver will probably have to weaken for that to happen.
If there is a plunge, it will probably end no lower than .25 in my opinion.
https://stockcharts.com/h-sc/ui?s=KTN.V&p=W&yr=3&mn=11&dy=0&id=p22645334671&a=945596628
It’s funny that few recognized a good buy when GDX bottomed on March 3rd (and Rambus went short the next day!).
Today’s action filled the remaining 5.2% gap from 1/28 (it was 6.5% originally)…
https://stockcharts.com/h-sc/ui?s=KTN.V&p=D&yr=1&mn=3&dy=0&id=p55754768838&a=945605124
Matthew – That is interesting on the Kootenay Silver gap on those charts. I was considering the initial gap filled with that long red bearish candle, but hadn’t considered the preceding gap back up as you noted. It would make sense if that area ends up being a congestion zone of support if the silver miners do pull back down. I may add just a little to my KTN position if it pulls back down to that gap zone again. Thanks.
If KTN gets down near $.26 then I may fire off some dry powder there. If not I’ve got a nice core position in Kootenay, and plenty of other silver miners if the trend higher continues in the PMs.
10 hour walk down on paper gold. Hopefully the markets will put a little pressure on that agenda.
Thanks for this interview. I wanted to check on how Bluestone was doing and couldn’t remember their name. Saved me some time figuring it out.