BC Co. Prepares to Enter Production at Dome Mountain Gold Project
Blue Lagoon Resources Inc. (BLLG:CSE; BLAGF:OTCQB; 7BL:FSE) recently announced it had entered the final stages of mine readiness at the Dome Mountain Gold Project. Read on to see why one technical analyst rates this stock as a Buy.
Blue Lagoon Resources Inc. (BLLG:CSE; BLAGF:OTCQB; 7BL:FSE) has entered the final stages of mine readiness at the Dome Mountain Gold Project, announced Chief Executive Officer (CEO) and President, Rana Vig, in a June 30 news release.
The company recently completed a non-brokered financing, which is now fully subscribed by long-term investors, including Crescat Capital, Phoenix Gold Fund, and Nicola Mining.
Additionally, Blue Lagoon secured a CA$2 million line of credit from Nicola Mining, providing a financial backstop and capacity to seize opportunities, ramp up production, and deal with unforeseen circumstances without causing dilution to shareholders.
Gold Shines Bright
Amidst geopolitical turmoil, ever-mounting global debt, and a trend towards de-dollarization, gold shines bright.
While long a mainstay of Main Street, gold has recently eclipsed the Euro as the #2 reserve currency held by central banks worldwide. Goldman Sachs has continued a bullish outlook, projecting a US$3,700 gold price by the end of 2025 and a steady increase to US$4,000 by 2026.
Asset management company Incrementum AG projects gold to hit US$4,800 by 2030, conceiving a price of US$8,900 in an inflationary scenario. More bearishly, Citi expects gold to be between US$3100 and US$3500 in the Q3 2025, projecting a dip to between US$2500 and US$2700 by the end of 2026, reported Reuters.
Company Catalysts
As of February 2025, Blue Lagoon holds one of nine full mining permits issued in British Columbia, in addition to having full support from Lake Babine First Nation. The highway infrastructure near Dome Mountain is accessible by well-maintained roads, and the local community is both supportive and has experience working in the mine.
The company has mineral titles to 21,000 hectares. 90% of the property is underexplored.
A water treatment plant has been completed and is undergoing quality assurance. The construction has been overseen by Soren Jensen, whose experience encompasses 20 years of working on mine water treatment systems, including treatment plants at other underground gold sites in Northern Canada.
The addition of Michael McCardal as Senior Underground Geologist brings three decades of underground gold mining experience to the team as it strives to optimize early stopes and grade control.
BLLG has passed three crucial government inspections, ensuring compliance with power systems, safety regulations, and mining procedures. The official opening for the mine is scheduled for July 9, 2025. Gold production is expected to commence in Q3 2025, with an estimated recovery of 15,000 ounces per year.
Blue Lagoon 'A Buy'
In an April article, Technical Analyst Clive Maund reviewed the fundamentals of Blue Lagoon and gave the company a Buy rating.
Streetwise Ownership Overview*
Blue Lagoon Resources Inc. (BLLG:CSE; BLAGF:OTCQB;7BL:FSE)
*Share Structureas of 7/2/2025Source: Refinitiv"Having broken out of the fine low pan base pattern in February that followed a severe bear market from the early 2020 highs, the new bull market in Blue Lagoon is still in its early stages," Maund noted.
In June, Maund told Streetwise Reports exclusively that "we should see dramatic acceleration to the upside." He continued, "It is thought likely that [the price] will race towards the early 2020 highs, with CA$2.10 as an initial objective."
Ownership and Share Structure
According to Blue Lagoon Resources' Investor Presentation, founders and insiders own 14% of the company. There are three strategic investors, Crescat Capital with 8%, Nicola Mining Inc. with 6% and Phoenix Gold Fund with 6%.
The remaining 66% of Blue Lagoon is in retail.
The soon-to-be-gold producer has 140.78 million issued and outstanding shares. Its market cap is CA$59.13M. Its 52-week range is CA$0.08-0.87 per share.
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Important Disclosures:
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Blue Lagoon Resources Inc.Miles Byrne wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.