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    BSR   CA09626M3049

BLUESTONE RESOURCES INC.

(BSR)
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Delayed Bourse de Toronto  -  12:58 2022-06-29 pm EDT
0.8400 CAD   -3.45%
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Credit Suisse nears settlement with West Virginia governor's mining group - FT

05/16/2022 | 03:12am EDT
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen in Zurich

(Refiles to fix date)

(Reuters) - Swiss bank Credit Suisse is close to a settlement with West Virginia Governor Jim Justice over the $690 million his mining company Bluestone Resources owes the bank's clients, the Financial Times reported on Monday, citing sources.

The Swiss bank has been focusing on some of the loans provided by Greensill, which imploded in March, to three counterparties including coal miner Bluestone, for which late payments have accrued.

Bluestone would step up production and make regular cash payments to Credit Suisse under a deal between the two parties, according https://on.ft.com/3Po1sdj to the newspaper.

The Swiss bank will also have an option on funds raised from a potential sale of the mines at a later date, the report said, adding that the settlement could be signed within weeks.

Credit Suisse and Bluestone did not immediately respond to Reuters' requests for comment.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Aditya Soni)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BLUESTONE RESOURCES INC. -3.45% 0.84 Delayed Quote.-59.72%
CREDIT SUISSE GROUP AG -2.30% 5.596 Delayed Quote.-35.44%
GOLD 0.05% 1819.47 Delayed Quote.-0.60%
S&P GSCI GOLD INDEX 0.20% 1060.26 Real-time Quote.-0.21%
SILVER 0.01% 20.74 Delayed Quote.-10.63%
All news about BLUESTONE RESOURCES INC.
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Financials
Sales 2022 - - -
Net income 2022 -9,69 M -7,51 M -7,51 M
Net Debt 2022 - - -
P/E ratio 2022 -33,6x
Yield 2022 -
Capitalization 127 M 98,5 M 98,5 M
Capi. / Sales 2022 -
Capi. / Sales 2023 -
Nbr of Employees 105
Free-Float 74,4%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 0,84 CAD
Average target price 4,53 CAD
Spread / Average Target 439%
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Managers and Directors
Jack Oliver Lundin President, Chief Executive Officer & Director
Peter T. Hemstead Chief Financial Officer
William Lamb Chairman
Leo Hathaway Independent Non-Executive Director
Zara Elizabeth Boldt Independent Non-Executive Director
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