Being a gold exploration company based in Canada, it made sense for Bonterra Resources to be taken in by Sutter Gold Mining.
Bonterra Resources was at the top of its game with over 3 million ounces of resources and various projects in the works.
The company itself had merged and acquired various companies over the years but would finally be acquired itself.
In 2020, Bonterra Resources talked about getting 10 million Canadian dollars to fund all of its projects. This shows the level at which the company stood and how much value it held.
Sutter Gold being a dedicated blog that has its mission set on getting well-researched articles and knowledge to its audience about gold IRA saw this as a great opportunity to bolster its rank and acquire Bonterra Resources.
Hence, after some talks and work, BonterraResources.com is now part of SutterGoldMining.com.
Mergers and acquisitions can get messy pretty quickly from the outside eyes, with people not knowing what to do anymore.
It is my job to help guide you through this merger and ensure that you understand everything about it.
What Was Bonterra Resources Inc. About?
Bonterra Resources was based in Vancouver, BC. It focused on expanding one of its many projects; the Gladiator Gold Deposit, located in the Abitibi Greenstone Belt.
This would be part of the mining-friendly section in Quebec. The company has taken over and handled various high-prospective exploration projects, one of which I will talk about extensively later in this article.
For now, you should know that the company controlled the only permitted gold mill in the entire region. This made sure to put them in an advantageous position against other gold exploratory companies.
I’ll talk more about this later in the article, but for now, you should be happy to know that the company employs experienced professionals with years of experience in gold mining.
Sutter Gold Mining has always been on top of the latest developments in gold and gold IRA, so acquiring a company as dedicated and decorated as Bonterra Resources was a huge success.
Not only did this help to expand Sutter Gold Mining, but it would also help expand projects for Bonterra Resources since they would now be a part of something much bigger than themselves.
Larder Lake Project
Located in the eastern part of Ontario, near Virginia town, the Larder Lake Gold Property straddled 9km in length. Bonterra Resources was responsible for modeling this project and updating its resources.
The bear lake deposit had more than 3.7 million tons of deposit, and the Cheminis Deposit had over 335,000 tons of gold.
These are huge amounts of gold and Bonterra Resources was in charge of their careful extraction. Also, the company ensured that the highest quality and grade of gold was extracted.
Larder Lake has always been in the eyes of various gold exploratory companies. Additionally, even the ground around the lake has been much sought after for its resource richness.
One of the investors of Bonterra Resources, Agnico Eagle, wanted to build a copper and gold mine just north of the lake.
It has also been operated on previously by many other companies, such as the Cheminis Mine, which is in the central part of the lake and is Cheminis property.
Gold Fields also worked on the Bear Lake properties and spent more than $40 million in development. They would terminate all activities and lose their data and results to Kerr Mines.
Bonterra Resources Acquisition History
In 2020, Bonterra Resources received a takeover offer from a huge third party valuing the company at 1.60 Canadian dollars a share.
This was double the price of their original shares before the bid news. This, however, was not the same stance that the company adopted, saying that the company was undervalued.
This shows how much confidence the company had in itself and how committed they were to its craft.
The company would then work towards the 10 million Canadian dollars I mentioned at the start of the article.
By this point, the company had a capitalization of 97.6 million Canadian dollars, which is not a small number by any standard.
After the news of the offer surfaced, Bonterra Resources’ share price went up by 34%.
These statistics should show just how much Bonterra Resources is valued as a company and the lengths people are willing to go to acquire the company.
This makes it all the better that Sutter Gold Mining was able to snatch the company and take it under its wing.
This will help tremendously with Sutter Golds’ undertaking to provide the public with the best gold IRA information.
Bonterra Resources’ Talent & Backing
A company is only as good as the people that are employed in it and the people that are backing it up. It is safe to say that by these standards, Bonterra Resources was a good company.
As I mentioned earlier, they had employed a slew of experienced and talented people that are the host of a variety of different skills and aptitudes that you expect from a company such as this.
You can see this immediately when you look at the company’s higher-ups, such as the chief executive.
Additionally, these people were backed up by very strong and influential investors who each held more than 10% of company shares, sometimes going as far as owning more than 20% of the entire company!
This just goes to show how valued Bonterra Resources was. One such investment was made by Sprott Capital Partners, who made almost 20 million dollars for company shares. This also makes it even better for Sutter Gold Mining to have such a valuable asset added to its ranks.
Bonterra Resources’ Huge Projects And Developments
Being in charge of gold mining in the Abitibi Greenstone Belt, it allowed Bonterra Resources to spearhead various huge projects. The major project I have already discussed is the Larger Lake project.
This project alone looked at more than 960,000 ounces of gold that needed to be extracted.
Another project that Bonterra Resources had taken over was the Gladiator Project which was set to gather over 270,000 ounces of gold.
While it would not be as huge as the Larger Lake project, it was still an impressive project to undergo in its own right.
By April 2018, Bonterra Resources was still working strong on the Gladiator Project, expanding it further westward to access more gold deposits.
Eventually, the Gladiator Project would be outlined by diamond drilling to access even more of the gold efficiently, leading to the company having access to around 12 km of gold reserves.
The company would go on to start even more projects and exploit other gold reserves, such as the Barry deposit and the Bachelor Moroy Deposit.
All of these deposits were in close range to each other, which made it very easy for Bonterra Resources to have access to them.
Furthermore, the extraction of these deposits was compliant with the NI 43 101 Mineral Resource Estimate.
This estimate measured at least 1.7 million ounces of gold, a huge payday, and gave 5.4 ounces per meter drilled.
How Can SutterGoldMining.com Help You?
Here at Sutter Gold Mining, it is our job to provide you with the best knowledge and information necessary to carry out your gold investment.
Not only this, but it is in your own best interest to read the content that we put out so that you can decide on the investment opportunity that is perfect for you.
Offering diverse and well-researched articles, Sutter Gold Mining is the only website you need if you want to learn or apply the concepts of gold IRA, investments, and other appealing topics.
Furthermore, you’ll not only be able to read content that will help boost your knowledge on gold IRA, but you will also have access to the best tips and investment opportunities in the entire industry.
With so much content to choose from, you should easily be able to get the article that you need the most.
You can start by reading up on the best-rated gold IRA investment companies.
Once you are done reading that article, you can then continue to read any of the following informative articles:
- Is Goldco A Reputable Company?
- Is Augusta Precious Metals A Reputable Company?
- Is Regal Assets A Reputable Company?
- Is Birch Gold Group Review A Reputable Company?
- Is Noble Gold Investments A Reputable Company?
If you are interested in companies that delve into physical gold, stocks, and crypto, then have no fear, as I will mention these companies so that you can get the one that is relevant to your search.
Sutter Gold Mining has always aimed to be your number one stop regarding gold IRA knowledge.
The blogs on the website cover various topics related to gold IRA, which help people new to the IRA scene and those who simply want an extra opinion.
That being said, now that BonterraResources.com is part of SutterGoldMining.com, you can expect even more quality content soon.
Much of the new content has already been drafted and is in the works, so keep a close eye on the Sutter Gold Mining website to stay up to date on the latest developments on gold IRA and more.