Cara Community GSM 50: Bonterra Res.

Bonterra Resources (TSX: BTR-V) (OTC: BONXF) reviewed 10-12-2020

Market Cap: 64.0 Million (USD)                  Share Price: 0.85 (USD)

Shares outstanding: 77,508,522 (14 Aug 2020)

Cash:     $10 M (CAD) as of 30 Jun 2020; working capital stated at $4.9 M (CAD)

Debt:     $547,528 (CAD) as of 30 Jun 2020

Current operations:  Drilling

Insiders: 18.5%     Institutional: 11 hold approx. 50% of the float


Investor Presentations:

Interim CEO & VP, Operations: Pascal Hamelin

Head Office: Val d’Or, Quebec

Bonterra Resources owns three properties and a mill in Quebec

They plan to expand the mill from 800 tpd to 2400 tpd and develop three deposits:

  • Gladiator, Indicated 743,000 tons at 8.5 g/ton; Inferred 3.9 M tons at 9.1 g/ton
  • Barry, Indicated 2.0 M tons at 5.4 g/ton; Inferred 2.7 M tons at 5.14 g/ton
  • Moroy, Measured and Indicated 667,000 tons at 5.17 g/ton; Inferred 396K t at 4.32 g/ton

The above estimates were valid as of 14 May 2019

High-grade deposits

Guidance is $600 per ounce cash costs

A new resources estimate is due out

Eight drill rigs operating, which includes In-fill and Resource expansion

A new high-grade discovery was reported in Sept 2020 on the Panache deposit of Upper Barry

Bottom line:

  • Speculative junior mineral exploration company in a good operating area
  • good insider ownership
  • currently permitting the mill and tailings expansion. Resources about 1.5 M oz Au, could increase to 2.0 M oz over time
  • No position, but the company looks interesting

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