Cara Community GSM 50: Bear Creek Mining

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

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