Bluestone secures US$30M credit facility, appoints new CEO

Bluestone Resources (TSXV: BSR; US-OTC: BBSRF) has entered into a US$30 million credit facility led by the French financial services firm Natixis.

“We were very pleased to receive support from Natixis and the Lundin family,” says Darren Klinck, Bluestone’s president. “The credit facility is the first stage of financing and represents a strong endorsement of the Cerro Blanco gold project.”

Natixis is one of several banks behind the debt financing package, with the proceeds from the facility to be used to start detailed optimisation, design, and engineering, and to initiate development work at the Cerro Blanco gold project in Guatemala.

Located 160 km east of southeast of Guatemala City, Cerro Blanco is a high-grade undeveloped gold project fully permitted for production. Entre Mares de Guatemala S.A, a wholly-owned subsidiary of Bluestone, based in Jutiapa, Guatemala, has been contracted to develop the mine.

“We are now working with a group of international banks and multinational development institutions to finalize a senior debt financing package,” Klinck says in an interview.

Bluestone has also announced the appointment of Jack Lundin as its new CEO, with Klinck retaining the role of president.

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