Bluestone Resources CEO Interview: RichTV Live

Bluestone Resources

Rich sits down with another CEO today, this time Darren Klinck from Bluestone Resources Inc. (TSXV:BSR) (OTCQB:BBSRF), a mineral exploration and development company headquartered in Vancouver.

A graduate of the Haskayne School of Business at the University of Calgary, Klinck is a respected mining executive with a broad range of international experience. Previous to being president and CEO of Bluestone Resources, he served as the EVP and Head of Corporate Development for OceanaGold Corporation. 

Rich talks to Klinck about Bluestone Resources’ mining projects in Guatemala. Specifically, they discuss the production capacity of the gold project, the enticing cash flow it’s expected to generate, and the company’s exciting next steps.

The Cerro Blanco Project is a Golden Opportunity

As Klinck explains, Bluestone is focused on advancing its wholly-owned Cerro Blanco Gold and Mita Geothermal projects in southeastern Guatemala. The Cerro Blanco mine, in particular, sounds like it will offer the company a very bright future.

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“It’s a high-grade, low sulphidation epithermal system which, rather uniquely, has a significant amount of previous investment from previous owners,” Klinck explains. “The Cerro Blanco projects has had more than $200 million invested in it over the last 10 to 15 years.”

Bluestone Resources acquired the project in 2017. In February of this year, the company released the findings of a feasibility study on the project, which expects the mine to be an economically robust venture. Over the next year, the company will be dedicated to putting together the necessary finances, operations, and human resources to begin construction and development in 2020.

Specifically regarding the Guatemalan location, Klinck says that his company is “very excited to be there.”

“We’ve got the best of both worlds—geological endowment, geological productivity, but of course also the head start with the more than $200 million already invested,” he says. Klinck adds that the company will ensure that its projects help create wealth and employment opportunities for the people of Guatemala. 

Cerro Blanco is ten kilometers from the nearest town, Asunción Mita, which has a population of about 15,000. Fortunately for Bluestone Resources, no relocation or resettlement is needed to work on the project. The company proudly states that the project is considered a part of the local setting by the nearby community. 

Bluestone Resources’ Production and Profitability Forecasts

“This project, because it’s a high-grade project, will produce between 100,000 and 150,000 ounces of gold per annum,” Klinck says. “When you match that up with the overall cost of production [you see] very robust margins.”

He goes on to explain that Bluestone can produce an ounce of gold from Cerro Blanco for less than $600. Seeing as an ounce of gold can be sold today for around $1,400, the project will certainly prove to be a lucrative one. 

Rich also asks Klinck to discuss Bluestone Resources’ recent corporate update, which explored the company’s recent successes and projected its next moves.

“By the end of 2021 we’ll be producing gold and making that important transition from developer/explorer into constructor and operator,” says Klinck. “And that’s of course when it becomes a real business and that’s of course when it starts generating cash flow. And like I said … [ours] will be some of the best margins in the industry.”

What do you think? Is Bluestone the next mining company about to strike it rich? If you liked this video, make sure to check out some of Rich’s other interviews with Emma Andrews, COO of BevCanna Enterprises Inc. (CSE:BEV) and Jason Dussault, CEO of StillCanna Inc (CSE:STIL) (OTCPK:SCNNF)

Featured image: © RichTV Live

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