Value Microcaps Zip Code Changers

[dr_airtime]

BSR.V Bluestone *New Pick, New Lundin Deal*

One of highest grade development projects in world, they are going to debt finance a huge chunk of otherwise small capex, lundin backed and current market cap is equal to free cash flow in year one of mine. Fully permitted and huge development spend done by Goldcorp. similar to K92!

HIghlights

- Goldcorp/Glamis invested over $230mm in project, acquired for $18mm and 1% NSR

- 3.5km of u/g development by GoldCop

- water treatment plant 'state of art for central america', office, settling ponds

- $60mm was invested in geothermal project to the east

- I've looked at this for work and Guatemala has a stable central bank, the best in Latin America, 1st world 1-2% like inflation. They don't print money. very busineess friendly.

- US $1500 Gold NPV is $392mm with a 1.6 year payback.

- Back in Denver (Sept 19) they were talking about a lot of project finance interest. There won't be full dilution here to finance the mine into production

- **most interesting** they got a pre-feasibility $30mm project financing package at LIBOR + 0.45%. No one else but a Lundin backed company can get that in the mining world!

- 940k oz of P&P reserves at 8.5 g/t

The only thing I can't figure out is --> Why did Goldcorp sell?

Here is the Sept 2019 Denver Presentation. Most important here is at 12:30 where they talk about the ability to upgrade inferred resources to indicated.

Denver Gold Presentation

This is the most important PR in the last couple months:

Jack Lundin + Debt