Bonterra Resources Inc. V.BTR

Bachelor Mill not mentioned

[psych01]

The only permitted and operational mill in the area not so much as mentioned in this multi million dollar joint venture proposal.  But this is worth keeping an eye on in the next few days, see if trading volumes allow for a quick in and out here and there.  Otherwise I have to disagree with those who pronounce BTR deceased---it's not about BTR it's about Osisko and the vast amount of territory in the claims.  IMO

[idlefreebird]

psycho , the mill was left to Bontera without any deposits ..therefore they have a mill no land and need to find gold to fill this mil ...MAP  told us months ago this wasn't economical after he bailed on 2 production scenarios...and as I mentioned to heystupid and ilovetobewrong that Wexford would sell this out as well as there was no money to be had here for years ...and now it's

[tannin]

Been thinking of the deal.....better than a slap in the belly with a wet fish.......however, stupid deal....because, it requires cash, 10 million, from btr, to maintain 30% interest in properties. Much better, 20million osk deal for 70%, with btr reqd to put up no, zero, nada, cash....then, no cash squeeze on btr as and when osk thinks most appropriate. Btr still own mill, tailings and those

[tomgranite]

Tannin, why are you saying BTR need to find $10mil? They don't need to do anything. OSK will fund $30mil of expenditure and then they will own 70% share of whatever is on BTR's property.

[tannin]

Tomgranite, mea culpa, read the nr incorrectly......you're right...OSK will spend 30 million over 3 years, nothing required from BTR....after that, they share expenses 70/30.  And BTR gets 5 million cash upfront Sorry to misread, and mislead.

[fruitvale3067]

Tannin, most of your post was speculation driven, and we all know how that has worked out in the past here.  Well here's some what happens if after a year Osisko decides not to persue this any further? now your back in the same ball park before this deal  Listen the company couldn't find investors in the last 2 tries at a PP. As many of us have been saying the only mill in the

[tannin]

Fruits, you've been right on the money with btr....... It's been a fricken disaster. This deal does bail btr out for the time being, and suggest strongly another buy out down the line, for the remaining 30% of Gladiator and whatever else the 30 million finds. BTR's 100% holding of the batchelor mill, and the batchelor/demaraisville properties has value; will OSK choose/need to use that

[tomgranite]

The reason why Bachelor mill is not mentioned, is because OSK have no interest in it. They will build their own 3,900 tpd mill and as the FS only shows 3,200 tpd they have spare capacity. They can increase capacity to 5,000 tpd by obtaining permits but there is no need to go to Federal level due to recent changes in law. The Barry open pit deposit may well end up being processed at the Windfall

[fruitvale3067]

Tannin,  Remember this new "near surface find, needs to be bettter than Moroy or it too will be worthless. Also the history of the area around the Bachelor Lake mine is good grades but narrow veins. It's easy to say this one will be no different. It's the MO of this area.  

[tannin]

Tomgranite and Fruits, suspect you're both right, but........ Things unfold strangely, often not 'as anticipated', and thus, seems to me, osk would be wise to have a second mill/tailings option available........especially true if expansion permit comes.....and especially valuable if its own permit hits bumps. As to gold near btr mill, in quantities and configurations that could be

[rdy2rumble]

Keep in mind given the current state of mining, permitting, logisitcs and getting experienced crew OSK has been extreme head winds to becoming operational and pouring gold before 2027 IMHO.  Not to mention getting materials for construction which currently is also difficult.... My gut tells me this relationship between OSK and BTR only strengthens moving forward.. Eventually BTR is bought out

[fruitvale3067]

rdy,  Osisko is getting a power line run all the way to windfall. Doesn't sound like any logistical issues to me. Plus as the stupisd one said Osisko has already ordered the long lead time items and were supposed to use it at the Bachelor lake upgrade. Again sounds like Osikoko has things under control.  As for an experienced work crew, Bonterra laid off their experienced miners 3+

[rdy2rumble]

Ok Fruit. I indicated my opinion, position on the timing.When does OSK pour gold from their own mill then... Keeping in mind permitting to completion will take at best 18 months,, and that's best case.. I said NO gold from their own mill be poured until at least 2027.. What's your time frame. Thanks in advance... 

[fruitvale3067]

Lets see what happens when the power line is finished. 

[rdy2rumble]

You may as well have said let's wait until they pour gold... I'll stick with my 2027 date then

[tannin]

Goodbye btr. Could be double in 3 yrs.....from buy out....so can others, or more, or quicker. Wasn't fun, but my decisions so can't complain. A fun board here....thanks all....and good luck with this one......i've been wrong so often, you can take heart.

[givemeabreak1]

I have to agree with Pokinfun oops I mean rdy2rumble!  He is usually in the know!

[fruitvale3067]

Tannin,  If I remember correctly Metanor didn't build the bachelor lake mill. They bought it from somenone else. Someone who couldn't make the narrow veins at bachelor lake work either.  They were mining the open pit at Barry initially when management decided to chase after the higher grade underground ore at Bachelor Lake. They eaked out some actual profits on some quarters