RE:RE:Watched latest Investor Update.......Sidebet, when a Bonterra investor update spends 90% of it's time talking about JV merger between Osisko and Goldfields and it's WIndfall property it's not good. Investor updates are to update investors on what your doing on your properties. Not a neighbors and how great it "COULD "be for Bonterra.
The 10% that did cover the work being done on Bonterra's properties wasn't good. Plus they didn't say anything about the much needed financing to continue the exploration that is planned.
If the next month or 2 is going to be an exciting time for Bonterra Investors then that tells me an offer is trying to be negociated. The issue is Bonterra isn't in the drivers seat. If they can't get financing to continue operations then they are not in a very good bargining position. We all know the financing mentioned a couple months ago is over 30 days past when MAP mentioned it would occur. Which tells me the clock is ticking. They probably only have a couple months of funding left. So it's between trying to sell now and get a better price, or option 2 which is go bankrupt and Osisko/Goldfields gets it all for virtually nothing, and neither option is good for long term shareholders. Nothing like management loading up with free options before getting a buyout offer (even a cheap one). I guess maybe an option 3 is out there where they do manage to get some financing which only dilutes shareholders by 30-60%. If this occurs kiss the buyout goodbuy.
Those that bought at these low levels might turn a small profit. Those who have been averaging down over the past 5 years will get slaughered. My loss will be tiny compared to what you are facing if this deal goes down.