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
Website: btrgold.com
Investor Presentations: https://btrgold.com/investors/bonterra-corporate-presentation-for-investors/
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