On Jan. 29, Bluestone Resources Inc. announced the results of the feasibility study for its Cerro Blanco gold project in Guatemala.
The study, which uses a base case of US$1,250/oz gold and US$18/oz silver, estimates a post-tax net present value (at 5-per-cent discount) of US$241-million with all-in sustaining costs of US$579/ounce. The project is expected to have initial capital costs of US$196-million with a post-tax payback period of 2.1 years.
Insiders seem enthusiastic about the results with a pair of directors spending a combined $389,686 picking up shares in the public market following the announcement.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Ted Dixon