Bluestone Resources

Website: www.bluestoneresources.ca
Primary ticker: TSXV:BSR
Stage of development: Development
Commodity: Gold, Silver
Project to promote: Cerro Blanco Gold Project

Live financials

Bluestone Resources Inc. is a mineral exploration and development company that is focused on advancing its 100%-owned high-grade, permitted Cerro Blanco Gold project located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs).

We are led by a team of professional executives that have a track record of success and are committed to creating value for our stakeholders.

View Research Report by National Bank of Canada on 30 May 2018 View Research Report by Haywood Securities on 26 June 2018 View Research Report by Canaccord on 18 October 2018 View Research Report by Pareto Securities on 2 May 2019 View Q3 2019 Corporate Presentation

Management Profile

Darren Klinck -President, CEO & Director

Darren was most recently Executive Vice President & Head of Corporate Development for OceanaGold Corporation responsible for overseeing the capital markets as well as the mergers and acquisitions strategy. Over the past ten years at OceanaGold, Mr. Klinck’s various responsibilities have also included oversight of project teams managing exploration, corporate social responsibility (CSR) and community engagement programs as well as extensive government relations activities.

Mr. Klinck is a graduate of the Haskayne School of Business at the University of Calgary and is a highly regarded mining executive with a broad range of international experience.


What is your rationale for attending 121 Mining Investment?

Bluestone Resources is looking to increase our exposure and initiate dialogue with funds and shareholders as we progress towards construction and production at Cerro Blanco. We are rapidly advancing the high-grade, permitted Cerro Blanco and have several upcoming catalysts, including the finalisation of our project financing package, which will include an equity raise component.


What recent news would you like to highlight to investors attending?

04/09/19 – Bluestone Announces Consistent High-Grade Channel Sampling Results in Development Drift – averaging 22.4 g/t over 22 meters along vein

21/08/19 – Bluestone Announces Additional Drill Results – 13.7 meters of 11.2 g/t Au and 78 g/t Ag

09/07/19 – Bluestone Underground Sampling Delivers 20.4 meters at 18.9 g/t Au and 33 g/t Ag (16.7 meters true width)

03/07/19 – Bluestone Drilling Delivers 7.9 meters of 19 g/t Au and 44 g/t Ag and 9 meters of 8.4 g/t Au and 53 g/t Ag

29/05/19 – Bluestone Drills Further High-Grade Intercepts including 5.4 meters of 11.9 g/t Au and 84.5 g/t Ag


What are your key goals for the next 3, 6 and 12 months?

3 Months:

Advancing and finalising our project financing package
Completing a resource estimate and study update
Ongoing drill program results (immediate mine life extension to further enhance NPV and IRR at Cerro Blanco)
Further project derisking activities and project readiness planning

6 Months:

Finalise project financing package
Aiming to kick-off engineering and construction activities at Cerro Blanco
Update resource at the South Zone following drill program

12 Months:

Continue to advance the development and construction at Cerro Blanco


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Bluestone Resources is continuing to derisk the permitted Cerro Blanco project as we progress towards construction, including completion of a project financing package, evaluation of contractor and surface facilities execution models as well as underground mining contractor options, conversion of resources into mineable reserves, continued HR readiness and CSR efforts.

We see a path forward with the support from our strong shareholder base, the Lundin Family and CD Capital, combined with strong economics and low initial capital to make Cerro Blanco an attractive opportunity in the gold space.


In a sentence, what do you think makes your company such a compelling investment?

Bluestone Resources is rapidly advancing the high-grade Cerro Blanco project, which is permitted for construction and operations with more than $200M invested in project by previous owners, a robust Feasibility Study with strong economics, a strong shareholder base, and has demonstrated exploration success and will generate more free cash flow than the current market capitalization of the company in the first year of production.