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Tag: Blue Star Gold Corp.

Red Cloud | redcloudfs.com

Blue Star Gold Corp. (TSXV:BAU) – C$8.4M Raised, Clean Capital Structure, and a New Target Price

Blue Star Gold announced the closing of a ~C$8.4M non-brokered private placement through two tranches, along with the conversion of C$4.1M in debt and cancellation of 7.85M warrants. The company had also reported last week the completion of a share consolidation. In our view, the company’s capital structure is more attractive than ever, and, with ~C$8.4M added to the bank, Blue Star is fully funded to carry out its 2021 exploration program across its district-scale Ulu, Hood River, and Roma projects in Nunavut. We are maintaining our BUY rating and updating our price target to C$1.30/sh (was C$0.30/sh) after accounting for these changes to Blue Star’s capital structure.

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Red Cloud | redcloudfs.com

Coverage Update

As a result of adding a new analyst, we are transferring coverage of the following companies. As a result of a reallocation of resources, Red Cloud is discontinuing coverage of the following companies.

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Red Cloud | redcloudfs.com

Red Cloud’s 2021 Pre-PDAC Mining Showcase – Event Recap

From March 3-5, Red Cloud hosted its annual Pre-PDAC Mining Showcase, featuring over 70 presenting companies and 80+ speakers, attracting over 1,500 registered participants. This included keynote speakers Matt Watson, Director, Precious Metals Commodity Management LLC; and Steve Hanke, Professor of Applied Economics – Johns Hopkins University. We provide a quick recap of the highlights from the conference within this report for those who were unable to attend the live event.

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Red Cloud | redcloudfs.com

Blue Star Gold Corp. (TSXV:BAU) – Conclusion of 2020 Drilling Signals Resource Growth at Ulu

Blue Star Gold announced the final assay results comprising of 17 holes from its 2020 exploration program at its 100%-owned, Ulu and Hood River properties located in Nunavut. We believe these results have continued to demonstrate Ulu’s significant resource growth potential, which we expect is likely to increase by 20-30% and has highlighted the importance of continuing to drill the high priority target areas at Hood River that could yield new discoveries.

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