Blue River Resources Ltd. (BXR:TSX-V) - May 2nd 2017
Original Price: $ 0.045
Current Price: $ 0.03
Blue River Resources Ltd. (BXR:TSX-V) is a Canadian-based exploration company focused on developing the Banlung gold project in Cambodia, and the Mazama copper deposit in Washington state.
The company is exploring for a near surface gold deposit, which subject to economic gold grades, could begin small-scale gold production in the next 12 months. Blue River is also well positioned to take advantage of rising copper prices with a significant land holding and potential billion pound deposit in one of the most prolific copper belts in North America.
Management of Blue River has had previous experience in bringing exploration and development properties into production. Griffin Jones, president of Blue River was part of a team at Minerex Resources Ltd. that successfully financed and placed into production, an open pit, heap-leach gold mine in Nevada. Minerex was eventually acquired by Amax in 1995.
Blue River Resources should have considerable news flow over the next 12 months as the company roles out its line trenching, bulk sampling, drilling and potentially a mining license at Okalla West, as well as the commencement of drilling at Mazama in the Summer. Should things progress as planned, future financing needs should be mitigated by early cash flow from production.
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