Entering text into the input field will update the search result below

Bluestone Resources

goldbug58 profile picture
goldbug58's Blog
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.


  • Advancing the Cerro Blanco gold project in Guatemala.
  • Lundin Group interest.
  • 3.1 Million oz. gold, 13.4 Million oz. silver.

Bluestone Resources, part of the Lundin Group, is advancing the Cerro Blanco gold project in Guatemala. It is a 3.1 Million oz. gold and 13.4 Million oz. silver (Measured & Indicated) resource.

Estimated to produce 300,000+ oz. gold and 10M oz. of silver per year using open-pit operations.

AISC over LOM is stated as $642/oz. of gold.

The company's current focus is a Feasibility Study (due Q1 2022), permitting, and capacity building & skills development within the local community.

Bluestone updated its Resource and NPV to $907 Million in June 2021.

Several analysts, including Canaccord Genuity, cover the stock with an average target price of C$4.30.

Franklin Gold & Precious Metals Fund owns 6,800,000 shares representing 4.5%.

Bottom Line: I was a tad early on these shares at $1.40 US. Added to position on recent weakness at $1.08, have a 2% position. Well-funded company with a history of success behind it, I am comfortable holding it while waiting for further development and strength in the gold price; hoping for a 3x-4x from here.


Market Cap: 172.25 Million (USD)

Share Price: $1.15 (USD)

Shares outstanding: 149,720,416 Fully Diluted shares as of July 2021.

Cash: $41.53 Million (USD) as of 30 June 2021

Current Liabilities: $2.73 Million (USD).

Long-term Debt: Nil.

Current operations: Mine Design, Feasibility Study, Permitting.

Insiders: 27% Institutional: 35%

Website: bluestoneresources.ca


CEO: Jack Lundin

Analyst's Disclosure: I/we have a beneficial long position in the shares of BBSRF either through stock ownership, options, or other derivatives.

CAVEAT: This blog is not intended as financial advice, I simply update you on how I am periodically allocating positions within my portfolio.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.