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An announcement from Blue Lagoon Resources ( (TSE:BLLG) ) is now available.
Blue Lagoon Resources has secured a $2 million line of credit from Nicola Mining, enhancing its financial flexibility as it prepares for gold production at the Dome Mountain Gold Project. This credit agreement, which does not require collateral against the company’s mineral property, underscores confidence in the project’s near-term production potential. The company is fully funded with no short-term debt and is positioned strongly as it enters the final phase of development, aiming to start gold production in Q3 2025. This financial move provides a backstop for production ramp-up and unforeseen needs without diluting existing shareholders.
The most recent analyst rating on (TSE:BLLG) stock is a Buy with a C$1.11 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 is a Canadian-based publicly listed mining company focused on the development of its 100% owned Dome Mountain Gold project in British Columbia, Canada. The company aims to build shareholder value through aggressive development, with a primary objective of becoming a cash-flowing mining company. It operates in a prime mining jurisdiction and has achieved a significant milestone with the granting of a full mining permit.
Average Trading Volume: 201,359
Technical Sentiment Signal: Buy
Current Market Cap: C$91.54M
See more data about BLLG stock on TipRanks’ Stock Analysis page.