It has been decided to introduce a mechanical water treatment plant at the Silver Mine as part of a...
Bonterra Resources to acquire Metanor Resources
Bonterra Resources will acquire Metanor Resources with the intention of creating an advanced Canadian gold exploration and development corporation.
The combined company’s main goal will involve expanding its presence in the Urban Barry Quebec gold camp, with the goal of building out future mining development in the area.
Nav Dhaliwal, President and CEO of Bonterra, said, “Bonterra has been an extremely successful exploration company and must continue to evolve and participate in growth opportunities. We have quickly and efficiently discovered and developed the Gladiator deposit over the past two years, and now look to put our exploration skills and experience to work on the larger combined land package. We believe we will be able to develop a much larger and more significant resource profile within the Urban Barry Camp. The availability and ownership of a permitted and expandable processing facility certainly places Bonterra in an excellent position to rapidly and cost effectively become a significant Quebec based gold producer.
Greg Gibson, Chairman and Interim CEO of Metanor, commented, “Putting together two, arguably, undervalued companies like Metanor and Bonterra is extremely beneficial and logical in a number of ways. Resource growth, exploration synergies and de-risking the path to production are all considerations, as well as potential to access different and larger markets and shareholders. I look forward to working with the Bonterra team, as the combined effort provides the opportunity to create significant shareholder value.”