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The latest update is out from Blue Lagoon Resources ( (TSE:BLLG) ).
Blue Lagoon Resources has secured exclusive access to its toll-milling partner Nicola Mining’s processing capacity, as Nicola has completed its other third-party obligations and will now focus solely on milling high-grade gold and silver material from the Dome Mountain project. With payment already received for an initial 1,000 tonnes and a total of about 2,500 tonnes expected to be shipped by the end of the week, Blue Lagoon is ramping up underground production and stockpiling material in a strong precious metals price environment, a development that enhances the mine’s near-term cash flow potential and strengthens the company’s operational momentum and positioning as a new gold producer in British Columbia.
The most recent analyst rating on (TSE:BLLG) stock is a Buy with a C$1.74 price target. To see the full list of analyst forecasts on Blue Lagoon Resources stock, see the TSE:BLLG Stock Forecast page.
More about Blue Lagoon Resources
Blue Lagoon Resources Inc. is a Canadian-based, growth-oriented mining company producing gold and silver from its 100%-owned Dome Mountain Gold Mine near Smithers, British Columbia. Operating in a favorable mining jurisdiction and led by an experienced mining and finance team, the company processes its mineralized material through a long-term toll-milling agreement with Nicola Mining and plans to reinvest future cash flow into near-mine and regional exploration to expand its resource base while emphasizing sustainability, community, and First Nation engagement.
Average Trading Volume: 224,529
Technical Sentiment Signal: Buy
Current Market Cap: C$138.8M
For an in-depth examination of BLLG stock, go to TipRanks’ Overview page.