Bear Creek Mining (TSX-V: BCM) (US OTC: BCEKF) reviewed 10-04-2020
Market Cap: 266.2 Million (USD)
Share Price: 2.38 (USD)
Shares outstanding: 111,832,435
Cash: $26 M (USD) as of 30 Jun 2020
Long-term Debt: None stated
Credit: Unknown
Current operations: No
Insiders: 15.6%
Institutional: 20 holders with 57% of float
Website: bearcreekmining.com
Investor Presentations: https://bearcreekmining.com/investors/presentations/
President, Director & CEO: Anthony Hawkshaw
Chairman: Catherine Macleod-Seltzer
HQs: Vancouver
Corani (Peru) is a large 100%-owned fully permitted poly-metallic silver-lead-zinc deposit
Proven & Probable reserves supporting Annual production of 9.6 M oz silver, 98 M lbs of lead & 69 M lbs of zinc
Low AISC ($7.62 in yrs 1-3 and $10.42 Life-of-Mine avg), and a 15-year mine life
Bear Creek has drilled 562 exploration drill holes over 101,000 meters since 2005
Total cost estimate at $579 Million (USD) to reach the production phase
Bottom line:
- Scheduled production of 2021 if they can finance the $579 Million
- Expected 15 M oz. in first three years. After that, 10 M oz. per year for remaining LOM.
- Final permits were rcvd and equity financing for $300 M (via share dilution).
- Base-metal offsets figure into the low silver cost. Given the size of this project, a takeover by a Major seems likely
- No position, but venture looks interesting