Interview with Marc-Andre Pelletier, President & CEO of Bonterra Resources

Our previous interview: https://www.cruxinvestor.com/posts/bonterra-resources-btr-junior-gold-explorer-in-quebecs-urban-barry-camp-3237

Recording date: 14th September 2023

In a recent interview at the Beaver Creek conference, Bonterra Resources CEO Marc-Andre Pelletier outlined plans to advance the company's Urban Barry gold projects in Quebec. With over 3 million ounces of resources and significant infrastructure already in place, Bonterra sees an opportunity to expand resources and attract a strategic partner.

Pelletier brings over 25 years of hands-on mining experience to Bonterra, having worked on projects across Canada. When he joined Bonterra last year, Pelletier saw the potential to add value by restarting production. The company pursued plans to resume mining at its Barry deposit, completing a PEA and starting a PFS. However, with operating costs escalating 50-100% in the Abitibi region, Bonterra put those plans on hold as they were no longer economically feasible.

Instead, Bonterra has focused on cutting costs, generating revenue by processing old mill tailings, and preparing for a new 13,000 meter drill program. Cleaning up the mill recovered over 600 ounces of gold worth C$1.6 million, providing funds for operations. The drill program aims to expand current resources at depth, follow up on past drill results that lacked follow-up, and test some "wildcat" targets identified through geophysics and geology.

With gold prices around $1,950/oz, Pelletier believes Bonterra's market valuation around C$25 million significantly undervalues its 3 million ounces of resources. He highlights the opportunity for new investors to acquire shares at current lows before the market turns. To better position Bonterra, Pelletier is also looking at strategic partnerships, joint ventures, or other transactions to increase resources towards a potential 6-10 million ounces and unlock more value.

Located in Quebec's Urban Barry camp neighboring zones where Osisko Mining and Cisco Mining recently acquired projects, Bonterra is surrounded by major miners and appealing assets. Its mill, tailings facility, mining leases, and proven resources provide a solid foundation. Drilling offers resource expansion potential, while strategic opportunities could strengthen its position during a tough market. For investors willing to weather volatile markets, Bonterra represents a speculative buy with substantial upside if gold prices rebound.
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