A helping hand for Bluestone to climb the financing wall of worry
    
    
      
    
  

  
    
        When we last reported on
        Bluestone Resources on July 26th,
        we suggested that the company's
        Cerro Blanco gold-silver project
        in Guatemala was at the
        pre-construction stage,
        typically a low point in
        the Lassonde mine life cycle model.
        The stock languished at that point
        for a few months but has moved sharply
        higher up the Lassonde curve over
        the past week on the back of financing news.
        On January 27th,
        Bluestone reported that it had
        obtained a US$30 million
        credit facility with Natixis,
        a French financial services firm.
        The interest rate will be LIBOR + 0.45%,
        and the facility will be used
        for project design & engineering,
        and early development, as well
        as general corporate purposes.
        The credit facility received
        a helping hand via
        a cash guarantee from a Lundin Family entity,
        Nemesia, which received 85,000
        shares and a debenture.
        That wasn't the only helping hand
        offered by the Lundin clan.
        Last week, the company also announced that
        Jack Lundin would be taking over as CEO.
        He was formerly working with Lundin Gold in
        Ecuador as a Project Superintendent.
        With the new CEO and financing in place,
        Bluestone’s outlook has is now sunny
        as insiders continue to climb on board.
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        CanadianInsider.com.
        This report is not
        a recommendation to buy or sell securities.