What is BTR’s board's magic ingredient
Bonterra has only been drilling next to Metanor at Barry since Q3 of 2010:-
• They do not have a 43-101 resource.
• Since drilling at Barry, BTR’s market cap has risen from ~ below C$5m to over C$44m in Q4 2010 (62m shares - SP from a 7.5c low to 71c high).
• It seems that this company came from less than C$5m cap, within the last 12 months and has already reached MTO’s current market cap, in Q4 2010, before stabilizing at its present value.
Since they do not have a near producing mine and mill, nor do they have a 43-101 resouces on their Barry drilling projects, then I am intrigued as to what this company’s management has that has generated such investor enthusiasm?
No doubt some views will be aired in response to the above, in order to explain the disparity between Metanor and Bonterra.....
Extracts from BTR’s last week’s press release are copied below:-
Feb 11, 2011 (ACCESSWIRE via COMTEX) -- Mining MarketWatch Journal has published a review of BonTerra Resources Inc.
BonTerra Growing in the Heart of Prolific Mining Camp:
News this week of a strategic land acquisition totaling 12 hectares expands BonTerra's interest in the Eastern Extension property and offers BTR.V greater flexibility in drilling and the potential for expanding the known gold zones as to date some drill holes collared by BonTerra have surrounded this new claim on two sides. Previous drill holes completed by BTR.V were drilled just east of this new acquisitions claim boundary. These holes include BA-10-01 and BA-10-03. BA-10-01 assayed 17.06 grams/tonne over 13.50 metres.
With this aggressive exploration program already being executed upon in 2011 and strategic expansion investors in BTR.V have an opportunity to gain exposure to a growing gold exploration/mining company in the process of exposing serious potential value by building on high-grades already discovered. BonTerra's area claim groups are situated next to two big deposits, one which is now being compared to Detour Gold;
BonTerra has the same style of deposit as the neighouring Metanor Resources' Barry deposit property which contains 309,500 oz Au of Indicated Resources (7,701,000 t at 1.25 g/t Au), 471,950 oz Au of Inferred Resources (10,411,000 t at 1.41 g/t Au). The independent international professional geological firm SGS Geostat has now identified the Barry deposit as comparable in potential to rival other major deposits such as Osisko's Malartic gold deposit & Detour Gold's Detour deposit (which contains an open pit mineral reserve of 11.4 million ounces of gold).
BonTerra's deposit, the Barry deposit and Windfall deposit are likely all part of the same structure, in fact Metanor's structure moves southeast towards BTR.V with Metanor's IP geophysical anomalies lighting up like a Christmas tree headed towards BTR.V. The Barry deposit is wide open for expansion and in an area ripe with numerous anomalies leading many to speculate a 4+ million ounce gold target is readily achievable with Metanor having already made musings of long term plans to build a concentrator on site.
The Windfall property (located ~10Km from BTR.V claims) presently owned by Eagle Hill Exploration (EAG - V) just this January 2011 announced another new gold zone. It has completed significant steps towards the definition of a large gold system, potentially amenable to bulk mining. BonTerra is also in close proximity to Amseco, Beaufield, Glen Eagle, Urbana and Freewest, Murgor and Noront.
It is important to remember that area miners such as Aur Resources (now Teck Cominco), Agnico-Eagle and Sigma are currently mining at depths of between 5,000 and 8,000 feet. It is very common in this region for the grades to increase at depth and with the values BonTerra is intersecting near surface, it is clear that BTR.V is worth being involved with now as it grows along -- it appears likely that it is only a matter of time before a major swoops in and takes control of this entire new mining camp.
With less than 36M shares outstanding (~44M fully diluted) BonTerra Resources Inc. offers one of the best vehicles for investors seeking serious strong growth prospects in precious metals in a safe mining friendly jurisdiction.