RE:RE:Lot of activity at Bonterra Resources...findthegold wrote: Lots of chatter on other sh boards (bfd) of this area play that Sprott wants to consolidate entire area play including osk. Wonder if combo of Kirkland and another major
Bonterra Resources
Bonterra (OTC:BONXD) is a new resource pick acquired in June 2017 – according to SEDAR, Eric Sprott controls a 10% stake in the company. Bonterra owns two gold projects located in the Abitibi Gold Belt in Quebec, Canada. The first project, Gladiator, is a high grade deposit containing 905 thousand tons of ore grading 9.37 grams of gold per ton of ore (273 thousand ounces of gold). The current estimate is classified as inferred resources but Bonterra is conducting an ambitious drill program and an updated estimate should be released in mid-2018. The second property, Larder, demonstrates a little bit lower grades than Gladiator (4.1 – 5.7 g/t) - this property, acquired in 2016, is another bet on the prolific Abitibi Gold Belt.
Interestingly, Gladiator lies a few kilometers from the Bachelor deposit, owned by Metanor Resources. I discuss this company below but it is crucial to know that Metanor is also controlled by Mr. Sprott.
Metanor Resources
Metanor (OTCPK:MEAOF, OTCPK:MEAOD) is another company operating in Canada. Currently the company has one operating mine called Bachelor (I have mentioned this mine in the section “Bonterra”) but next year it should put online another project, the Barry mine. Both projects are located in the Abitibi Greenstone Belt in Quebec so Metanor is another Sprott’s bet on Canada.
Mr. Sprott acquired the first stake in Metanor in 2016. This year he increased his stake by additional 4 million shares, acquired in June at C$0.85 a share. As a result, Sprott controls 14.3% of the company but investors should keep in their minds that, apart from Eric Sprott, a stake of 12.2% is held by Kirkland Lake Gold, the company where he holds all the cards.
Summary
It looks like Eric Sprott invests in sure things: