Bonterra Res Stock Price, News & Analysis

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.