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The Ubika Research Junior Resource stock watchlist
| Belo Sun Mining Corp (Symbol: V.BSX) |
| Company Name: |
Belo Sun Mining Corp. |
| HQ Location: |
Toronto, Ontario |
| Company Website: |
www.verena.com |
| Shares Outstanding |
137.9 Million |
| Closing Price (Aug 23, 2010) |
$0.475 |
| Market Cap: |
$65.5 Million |
| Average Daily Volume |
211,000 |
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The Ubika Research Resource Stock Watchlist is a feature that profiles junior mining stocks. Visitors will discover high potential Canadian mining stocks, the best gold stocks, small cap energy stocks and junior gold companies through this very popular feature.
Share Highlight / 1-Year Stock Chart
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Business Overview
Belo Sun Mining Corp, (TSXV: BSX) formerly Verena Minerals Corporation, is an advanced stage junior resource company exploring for gold in Brazil. It has a portfolio of properties, including 100% Volta Grande gold property. Verena’s other properties include the 100% owned Patrocinio Gold project in Para State and the Rainbow Alexandrite project in Goias state. Volta Grande is its flagship project and includes approximately 48,500 hectares of land and is situated in the margin of the Xingu river, some 50 kilometers from the city of Altamira, Para state in Brazil.
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What is interesting?
- The company’s flagship project, Volta Grande Gold Project, is well into the development phase and is close to economic feasibility.
- Volta Grande is an advanced-stage project that hosts a NI 43-101 compliant total gold resource (indicated & inferred) exceeding 2.2-million ounces.
- The company has conducted extensive exploration program at Volta Grande. More than 35,000 meters of core and RC drilling has been completed at this property and metallurgical studies indicate high overall recoveries above 90%.
- The project has strong exploration potential. The current resource calculation is done to a level of 150 meters only. Excellent exploration potential exists to expand the deposit with next phase of drilling below the 150 metre level.
- The company’s projects are in Brazil, the largest Latin American country and economy. Brazil is a stable and fast growing economic powerhouse with mining friendly policies.
- The company has completed an independent Preliminary Economic Assessment demonstrating economic feasibility and robust internal rate of return for developing Volta Grande gold project.
- Strong alliance with Kinross Gold (TSX: K), which is also a major shareholder in the company.
- A strong management team with experienced professionals managing the exploration and operational activities.
- The company recently raised $6M to fund ongoing exploration and development programs. A strong treasury will facilitate and expedite exploration plans and can result in short term catalysts.
- Belo Sun Mining is part of the “Forbes and Manhattan Group”, a well known Toronto based private merchant group with focus on early stage resource companies. Forbes and Manhattan has historically helped to build very successful resource companies and a backing from this group bodes very well for the company.
Risks
Belo Sun Mining Corp. is an early stage exploration company. The commercialization risks associated with mineral exploration and development are high and its prospects for discovering economically viable resources are uncertain. Gold prices can fluctuate and a decline in gold could impact the share price of the company adversely. Early stage exploration companies typically needs significant amount of capital and although well financed, Belo Sun Mining may still require additional financing. This could result in shareholders’ dilution.
Belo Sun Mining Corp. News
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