Vendors of Everest got 48.5 million shares in BLZ at around 7c...

Vendors of Everest got 48.5 million shares in BLZ at around 7c per share (21st Mar share price).

Effectively, BLZ paid $3.3 million for a company with an EV of $1.22 million ($340k investments and $880k cash, $0 for dud gold project).

I did some digging and the shareholders of Everest, assuming they have been selling down the past few months, have made a nice ~10 bagger from their initial equity contributions to Everest.

Even at current BLZ levels of 3.5c, they are sitting on a tidy profit.

I guess BLZ is a perfect 101 on how to print money!