Welcome to our dedicated page for Bonterra Res news (Ticker: BONXF), a resource for investors and traders seeking the latest updates and insights on Bonterra Res stock.
About Bonterra Resources Inc.
Bonterra Resources Inc. (TSXV: BTR, OTCQX: BONXF, FSE: 9BR2) is a Canadian gold exploration company with a focus on advancing high-potential gold deposits in Quebec, Canada. Anchored by a strategically located central milling facility in Val-d'Or, Quebec, Bonterra's portfolio includes advanced exploration assets such as the Gladiator, Barry, Moroy, and Bachelor gold deposits. These assets collectively hold significant gold resources, positioning the company as a key player in the prolific Abitibi greenstone belt, a region renowned for its rich mineral endowment.
Core Operations and Assets
Bonterra's operations are centered around its advanced exploration projects, which are supported by its Bachelor Mill Complex. This facility provides a competitive advantage by enabling efficient ore processing and reducing logistical challenges. The company's flagship assets include:
- Gladiator Deposit: A high-grade gold deposit with significant exploration upside, located within the Urban-Barry mining camp.
- Barry Deposit: Known for its open-pit and underground potential, the Barry deposit complements the company's resource base.
- Moroy and Bachelor Deposits: These deposits are located near the Bachelor Mill, offering synergies in exploration and development.
In addition to these assets, Bonterra has a 100% interest in the Desmaraisville South Project, which has shown promising exploration results and potential for near-surface gold mineralization.
Strategic Partnerships and Growth Initiatives
Bonterra has demonstrated a commitment to collaboration through its joint venture agreement with Osisko Mining Inc. (now Gold Fields Ltd.) for the Urban-Barry properties. Under this agreement, Gold Fields can earn a 70% interest by investing C$30 million in exploration expenditures by 2026. This partnership underscores Bonterra's strategic approach to advancing its assets while sharing exploration risks.
The company's exploration efforts are further bolstered by its partnerships with industry experts and service providers, ensuring the use of cutting-edge technologies and methodologies in its drilling and analysis programs.
Competitive Positioning
Operating in the highly competitive gold exploration sector, Bonterra stands out due to:
- Strategic Location: Its assets are situated in a world-class gold mining region with excellent infrastructure and access to skilled labor.
- Advanced Assets: The company's deposits have significant resource bases and exploration potential, providing a strong foundation for growth.
- Central Milling Facility: The Bachelor Mill enhances operational efficiency and positions Bonterra for rapid project development.
- Collaborative Approach: Partnerships with major players like Gold Fields and innovative service providers amplify its exploration capabilities.
Commitment to Sustainable Development
Bonterra is dedicated to responsible exploration practices, adhering to strict environmental and regulatory standards. The company engages with local communities and stakeholders to ensure its operations contribute positively to regional development.
Conclusion
Bonterra Resources Inc. is poised for growth in the dynamic gold exploration industry. With a robust portfolio of advanced assets, strategic partnerships, and a commitment to operational excellence, the company is well-positioned to unlock significant value for its stakeholders. Its focus on the Abitibi greenstone belt, combined with its technical expertise and collaborative approach, underscores its potential as a key contributor to Quebec's mining sector.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) has launched a diamond drilling program at its wholly-owned Desmaraisville South project. The company plans to drill 4,000 to 6,000 meters by year-end, targeting several prospective areas identified through geological and geophysical work. The primary goal is to discover new mineralized lenses within 15 kilometers of the Bachelor Mill Complex.
Concurrently, Bonterra is considering updating its 2021 mineral resource estimate for the Barry and Gladiator deposits, following over 100,000 meters of additional drilling. The company also noted ongoing compilation work at the Phoenix JV, where a 60,000-meter drill campaign was completed in July, with further drilling expected later this year under Gold Fields' operation.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) congratulates Osisko Mining on its C$2.16 billion friendly takeover by Gold Fields The all-cash transaction values Osisko shares at C$4.90 per share, representing a 55% premium to the 20-day volume weighted average trading price. Bonterra's CEO, Marc André Pelletier, expressed enthusiasm for the deal, highlighting its significance for the Windfall gold project and the region's development. He also emphasized Bonterra's commitment to continuing the joint venture with their new partner, Gold Fields.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) has announced high-grade gold drill results from the Phoenix JV project, particularly at the Moss Target. Highlights include 38.33 g/t Au over 1.1 m and 7.37 g/t Au over 4.2 m. The project, under a joint venture with Osisko Mining, has seen about 60,000 meters drilled to date, with 37,000 m focused on the Moss Target. The mineralization is similar to the high-grade Lynx Zone and remains open. Drilling activities are completed for now and will resume later this year. The company has exceeded the minimum annual spending commitment of $10 million outlined in the agreement. Additionally, Bonterra plans a 6,000 m drill program at its Desmaraisville project, starting in September.
On June 12, 2024, Bonterra Resources (OTCQX: BONXF) held its Annual General Meeting (AGM) for the fiscal year ending 2023 in Val-d'Or, Quebec. Shareholders approved all matters, including the setting of the number of Directors at seven and the re-election of Cesar Gonzalez, Marc-André Pelletier, Normand Champigny, Matthew Happyjack, Paul Jacobi, Matt Houk, and Peter O'Malley as Directors. Crowe MacKay LLP was appointed as the auditors for the following year. Additionally, the Omnibus Equity Incentive Compensation Plan was approved. A total of 76,212,048 common shares, representing 57% of all issued and outstanding shares, were voted.
Bonterra Resources announced a non-exclusive marketing agreement with Westlake Capital to enhance investor relations and market presence. Westlake will receive GBP 5,850 monthly for services including connecting with investors, organizing meetings, and aiding marketing efforts. The six-month term, costing up to CAN$65,000, is extendable with mutual consent. Westlake is an independent Zurich-based firm with no prior ties to Bonterra and holds no Bonterra securities.
Bonterra Resources announced an update on its Desmaraisville project, having completed a 15,000-meter drill program and two geophysical surveys in late 2023. The company identified promising targets for field work, aiming to prioritize drill targets for a 9,000-meter drill program later this year. Bonterra also engaged Dr. Michel Jébrak for technical support. The field work will focus on gold showings, outcropping areas, Bouguer anomalies, and IP conductors. Concurrently, exploration at the Phoenix JV with Osisko Mining is progressing with 35,000 meters drilled so far. Additionally, Bonterra closed a private placement, raising $8.54 million and issuing compensation options and warrants to agents.
Bonterra Resources Inc. amends its agreement with Machai Capital Inc. to pay a cash fee for digital marketing services instead of common shares, following TSX Venture Exchange policies. The three-month engagement, starting on March 15, 2024, will see Machai receive $33,000 plus taxes by May 8, 2024. Machai specializes in marketing and public awareness in various sectors and is unrelated to Bonterra aside from this agreement.
Bonterra Resources Inc. has successfully closed its 'best efforts' private placement, raising gross proceeds of $8.5 million. The Offering included the sale of 5,250,000 flow-through units and 24,820,000 units at specific prices. Eight Capital acted as lead agent in the transaction. The Company plans to utilize the net proceeds for working capital and general corporate purposes. Additionally, Bonterra settled $1.5 million in outstanding debt through the issuance of common shares.
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