BonTerra Resources

Bonterra Resources (TSX-V-BTR) is a Canadian gold exploration company with ~3.0M Oz’s AU defined between three deposits within the Abitibi Greenstone belt in Quebec, Canada.

 

In August, Bonterra’s neighbour and JV partner, Osisko Mining announced its acquisition by top 10 global gold producer Gold Fields for ~C$2.16 billion. This transaction, which represented a significant 55% premium to the 20-day volume-weighted average price (VWAP) on the TSX, consolidates the 50-50 joint venture the two companies formed in 2023 on the Windfall gold project.

 

This acquisition has drawn attention to Bonterra Resources, with properties adjacent to the Windfall gold project. Bonterra’s strategic land position in this emerging gold district was further validated in November 2023 when the company entered into the Phoenix JV with Osisko Mining. The Urban-Barry properties, including the Gladiator and Barry deposits, are central to this agreement. Osisko/Gold Fields can earn a 70% interest in these properties by investing C$30 million in work expenditures and making a C$5 million upfront payment (paid). As of August 2024, 60,000 meters have been drilled under the JV, and a discovery has been made at the Moss target, where high-grade Lynx-type mineralization was discovered at depth.

 

This latest development underscores Bonterra’s advantageous position, particularly with the Phoenix JV’s annual expenditure requirement of C$10 million already surpassed in the first seven months. The continued investment by industry leaders like Gold Fields and Osisko Mining highlights the growing significance of this region in Quebec’s mining landscape.