Latest news with #Bonterra
Cision Canada
3 days ago
- Business
- Cision Canada
Bonterra Energy Announces Second Quarter 2025 Financial Results and Operations Update
CALGARY, AB, Aug. 14, 2025 /CNW/ - Bonterra Energy Corp. (TSX: BNE) ("Bonterra" or the "Company") is pleased to announce its financial and operating results for the three and six months ended June 30, 2025. The related unaudited condensed financial statements and notes for the second quarter, as well as management's discussion and analysis ("MD&A"), are available on SEDAR+ at and on Bonterra's website at FINANCIAL AND OPERATIONAL HIGHLIGHTS (1) Funds flow, while not recognized under IFRS®, is used by management to assess the Company's ability to generate cash from operations. For these purposes, the Company defines funds flow as funds provided by operations including proceeds from sale of investments and investment income received excluding the effects of changes in non-cash working capital items and decommissioning expenditures settled. (2) Net loss for the six months ended June 30, 2025, primarily reflects a one-time debt extinguishment cost of $11.6 million. (3) On March 1, 2024, the Company acquired the Charlie Lake Assets for cash consideration of $23.6 million and $0.3 million in non-core mineral rights, including closing adjustments. The Charlie Lake Assets has been accounted for as an asset acquisition, which resulted in an increase of $24.2 million in PP&E and the assumption of $0.3 million in decommissioning liabilities. (4) Net debt is not a recognized measure under IFRS. The Company defines net debt as current liabilities less current assets plus long-term bank debt, subordinated debentures, subordinated term debt and subordinated notes. (5) BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 MCF: 1 bbl is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. FINANCIAL & OPERATING HIGHLIGHTS Production averaged record levels for the fourth consecutive quarter, reaching 16,399 BOE per day in Q2 2025, a 15 percent increase from 14,242 BOE per day in Q2 2024. This growth was driven by the success of Bonterra's drilling results to date in the Charlie Lake and Montney. Accordingly, the Company has increased its 2025 annual production guidance to a range of 15,000 to 15,200 BOE per day from its original guidance range of 14,600 to 14,800 BOE per day. Funds flow 1 totaled $23.1 million ($0.62 per diluted share) in the second quarter of 2025. Field netback and cash netback 1 averaged $21.28 per BOE and $15.47 per BOE during Q2 2025, respectively, with WTI crude oil prices averaging US$63.74 per barrel and AECO natural gas prices averaging $1.68 per mcf. Production costs averaged $16.44 per BOE in Q2 2025, a decrease of 8 percent from Q1 2025, subsequent to a successful Cardium well reactivation program in the first quarter. Capital expenditures 1 totaled $6.3 million in the quarter and $38.8 million in the first six months of 2025, with $20.4 million allocated to the drilling, completion and tie-in of five gross (4.7 net) operated wells in the Charlie Lake and Cardium. An additional $18.4 million supported infrastructure, non- operated activities and development of a new battery and water disposal well to further develop the Charlie Lake play. Production outperformance driven by its first half capital program has allowed the Company to lower its full year capital guidance range to $65 to $70 million from the original guidance range of $65 to $75 million. Net debt 1 totaled $169.9 million as at June 30, 2025, a decrease of 9 percent from Q1 2025 resulting in a 1.3x net-debt-to-EBITDA multiple. Normal Course Issuer Bid initiated in April, and during the six months ended June 30, 2025, Bonterra purchased 491,500 common shares (1.3% of the total outstanding shares on December 31, 2024) for cancellation at an average price of $3.50 per common share. Revolving Credit Facility was renewed on April 30, 2025 with an increased borrowing base capacity of $125 million and improved terms including a wider borrowing base, lower interest rate spreads, and the removal of financial covenants, providing enhanced flexibility to support Bonterra's business plan. _____________________________________ 1 Non-IFRS measure. See advisories later in this press release. OPERATIONS UPDATE Cardium The Company is pleased to report an update on its first half Cardium drilling program. In the first quarter of 2025 the Company drilled two gross (2.0 net) Cardium wells. On average per well rates are approximately 140 barrels per day of light crude oil, 0.4 mmcf per day of conventional natural gas and 20 barrels per day of natural gas liquids after 6 months, which is well above historical results in the area. The Company plans to follow up on these results with further drilling activity in 2026. Charlie Lake The Company successfully expanded its Charlie Lake operations north of the Peace River with the drilling and completion of a three-well horizontal pad and construction of a new oil battery, pipeline, and water disposal well, ahead of schedule and on budget in the first quarter of 2025. Production from the new three-well pad commenced in the second quarter; the three wells averaged 90-day peak rates at a combined 1,905 BOE per day, including approximately 530 barrels per day of light crude oil, 100 barrels per day of natural gas liquids and 7.7 mmcf per day of conventional natural gas. The Company plans to drill an additional three gross (2.7 net) wells in the second half of 2025 with plans to bring these wells on production through Q4 2025 and Q1 2026. Current net production from the Charlie Lake asset is approximately 2,050 BOE per day. Montney The Company's latest Montney well continues to deliver strong results after 9 months, currently producing at rates of approximately 585 BOE per day, including approximately 190 barrels per day of light crude oil, 1.9 mmcf per day of conventional natural gas and 75 barrels per day of natural gas liquids. The second well in the play has cumulatively produced 72,100 barrels of light crude oil, 550 mmcf of conventional natural gas and 19,100 barrels of natural gas liquids over a nine - month period. Current net production from the Montney asset is approximately 1,000 BOE per day. The Montney remains a strategic asset in the Company's portfolio for enhancing shareholder value. The Company's plan to assess long-term egress solutions over the coming quarters before allocating further capital to the Montney play remains unchanged. RETURN-OF-CAPITAL Bonterra received approval from the Toronto Stock Exchange on April 11, 2025 to implement a Normal Course Issuer Bid. The program allows the Company to repurchase up to 3,199,449 common shares, representing approximately 10 percent of its public float, between April 15, 2025, and April 14, 2026. During the six months ended June 30, 2025 the Company purchased 491,500 common shares (1.3% of the total outstanding shares on December 31, 2024) for cancellation at an average price of $3.50 per common share. STRENGTHENED FINANCIAL POSITION In early 2025, Bonterra undertook a series of strategic financing transactions to further strengthen its balance sheet. On January 28, 2025, the Company closed a private placement of $135 million in Senior Secured Second Lien Notes due 2030, with proceeds used to repay its second lien subordinated term debt and reduce borrowings under its revolving credit facility. Following this, on February 26, 2025, Bonterra redeemed its subordinated debentures in full. On April 30, 2025, the Company renewed and increased its revolving credit facility to $125 million. The renewed facility features improved terms, including a wider borrowing base, lower interest rate spreads, and the removal of financial covenants, providing enhanced flexibility to support Bonterra's business plan. To protect future cash flows, Bonterra has secured physical delivery sales and risk management contracts for approximately 35% (net of royalties payable) of its expected crude oil production and natural gas production, through the next nine months. The Company has executed costless collars ranging in WTI prices between $55.00 USD and $75.50 USD per barrel for 1,811 barrels per day. In addition, the Company has secured natural gas prices between $1.75 and $3.30 per GJ for 15,122 GJ per day. OUTLOOK In the prevailing commodity price environment, Bonterra is positioned to exceed its original full year production guidance within the bottom half of its original capital guidance range. Production is on pace to exceed the upper end of the Company's original guidance range of 14,600 to 14,800 BOE per day and, as a result, Bonterra has increased its annual production guidance range to 15,000 to 15,200 BOE per day while lowering its capital guidance range to $65 to $70 million. Higher production with less capital deployed is evidence of the Company's strategy to increase capital efficiencies while improving its free funds flow profile. For the remainder of the year, Bonterra plans to continue to focus on free funds flow generation and balance sheet management with the second-half capital program planned to execute the drilling of three gross (2.7 net) Charlie Lake wells with plans to complete, tie-in and bring the wells on production through Q4 2025 and Q1 2026. Bonterra continues to preserve capital flexibility for the remainder of the year, depending on commodity price conditions. It remains focused on driving production efficiency and maximizing returns, generating free funds flow to support debt repayment, maintaining a debt-neutral position while funding its NCIB, and evaluating strategic acquisition opportunities in its core areas. About Bonterra Bonterra Energy Corp. is a conventional oil and gas corporation forging a grounded path forward for Canadian energy. Operations include a large, concentrated land position in Alberta's Pembina Cardium, one of Canada's largest oil plays. Bonterra's liquids-weighted Cardium production provides a foundation for implementing a return of capital strategy over time, which is focused on generating long-term, sustainable growth and value creation for shareholders. The emerging Charlie Lake and Montney resource plays are expected to provide enhanced optionality and an expanded potential development runway for the future. Our shares are listed on the Toronto Stock Exchange under the symbol "BNE" and we invite stakeholders to follow us on LinkedIn and X (formerly Twitter) for ongoing updates and developments. Cautionary Statements Non-IFRS and Other Financial Measures In this release, the Company refers to certain financial measures to analyze operating performance, which are not standardized measures recognized under IFRS® and do not have a standardized meaning prescribed by IFRS. These measures are commonly utilized in the oil and gas industry and are considered informative by management, shareholders and analysts. These measures may differ from those made by other companies and accordingly may not be comparable to such measures as reported by other companies. This release contains the terms "funds flow", "capital expenditures", "net debt", "net debt to EBITDA ratio", "field netback" and "cash netback" to analyze operating performance. Non-IFRS and other financial measures within this release may refer to forward-looking non-IFRS and other financial measures and are calculated consistently with the three and six months ended June 30, 2025 reconciliations as outlined below. Funds Flow Funds flow is a non-IFRS financial measure, calculated as cash flow from operating activities including proceeds from sale of investments and investment income received excluding effects of changes in non- cash working capital items and decommissioning expenditures settled. Management uses funds flow to determine the cash generated during a period. The following is a reconciliation of funds flow to the most directly comparable IFRS measure, "Cash flow from operations": Capital Expenditures Capital expenditures are a non-IFRS financial measure. They are calculated as the sum of exploration and evaluation costs and property, plant, and equipment costs per the statement of cash flow. Management uses this metric to assess the total cash capital expenditures incurred and displayed in the six-month period ended June 30, 2025, condensed financial statements as follows: Net Debt and Net Debt to EBITDA Ratio Net debt is defined as current liabilities less current assets plus long-term bank debt, subordinated debentures, subordinated term debt and subordinated notes. Net debt to EBITDA ratio is defined as net debt at the end of the period divided by EBITDA for the trailing twelve months. EBITDA is defined as net earnings excluding deferred consideration, finance costs, provision for current and deferred taxes, depletion and depreciation, share-based compensation, gain or loss on sale of assets, extinguishment of debt and unrealized gain or loss on risk management contracts. For more information about net debt or net debt to EBITDA ratio, please refer to Note 10 of the June 30, 2025 condensed financial statements. The following is a reconciliation of trailing twelve-month EBITDA to the most directly comparable IFRS measure, "Net earnings": Field and Cash Netback Field netback is a non-IFRS financial measure, calculated as oil and gas sales, realized gain (loss) on risk management contracts less royalties and productions costs. Field netback per BOE is a non- IFRS ratio, calculated as field netback divided by total barrels of oil equivalent produced during a specific period of time. There is no comparable measure in accordance with IFRS. This metric is used by management to evaluate the Company's ability to generate cash margin on a unit of production basis. Cash netback is a non-IFRS financial measure, calculated as field netback, proceeds on sale of investments and other income less office and administration, employee compensation, interest expense and current income taxes. Cash netback per BOE is a non-IFRS ratio, calculated as cash netback divided by total barrels of oil equivalent produced during a specific period of time. There is no comparable measure in accordance with IFRS. This metric is used by management to evaluate the Company's ability to generate cash flow from continuing corporate activities on a unit of production basis. Field and cash netback are calculated on per unit basis as follows: Forward Looking Information Certain statements contained in this release include statements which contain words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "will", "believe" and similar expressions, relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. Forward-looking information in this release includes, but is not limited to: the Company's 2025 financial and operating guidance relating to production and capital expenditures; the Company's 2025 priorities and outlook; exploration and development activities; repayment of indebtedness; plans to continue funding the NCIB; oil and natural gas prices and demand; expansion and other development trends of the oil and gas industry; business strategy and outlook; expansion and growth of our business and operations; and other such matters. All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may affect operations, and may include, without limitation: foreign exchange fluctuations; equipment and labour shortages and inflationary costs; general economic conditions; industry conditions; the impact on the Canadian energy industry of U.S. tariffs, changes to international trade agreements or the potential imposition of tariffs or other protectionist economic policies by the Canadian federal or provincial governments; applicable environmental, taxation and other laws and regulations as well as how such laws and regulations may limit growth or operations within the oil and gas industry; the impact of climate-related financial disclosures on financial results; the ability of the Company to raise capital, maintain its syndicated bank facility and refinance indebtedness upon maturity; the effect of weather conditions on operations and facilities; the existence of operating risks; volatility of oil and natural gas prices; oil and gas product supply and demand; risks inherent in the ability to generate sufficient cash flow from operations to meet current and future obligations; increased competition; stock market volatility; credit risks; climate change risks; cyber security; opportunities available to or pursued by us; and other factors, many of which are beyond our control. The foregoing factors are not exhaustive. In addition, to the extent that any forward-looking information presented herein constitutes future-oriented financial information or financial outlook, as defined by applicable securities legislation, such information has been approved by management of the Company and has been presented to provide management's expectations used for budgeting and planning purposes and for providing clarity with respect to the Company's strategic direction based on the assumptions presented herein and readers are cautioned that this information may not be appropriate for any other purpose. Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do, what benefits will be derived therefrom. Except as required by law, Bonterra disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained herein is expressly qualified by this cautionary statement. Frequently recurring terms Bonterra uses the following frequently recurring terms in this press release: "WTI" refers to West Texas Intermediate, a grade of light sweet crude oil used as benchmark pricing in the United States; "MSW Stream Index" or "Edmonton Par" refers to the mixed sweet blend that is the benchmark price for conventionally produced light sweet crude oil in Western Canada; "AECO" is the benchmark price for natural gas in Alberta, Canada; "bbl" refers to barrel; "NGL" refers to Natural gas liquids; "MCF" refers to thousand cubic feet; "MMBTU" refers to million British Thermal Units; "GJ" refers to gigajoule; and "BOE" refers to barrels of oil equivalent. Disclosure provided herein in respect of a BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 MCF: 1 bbl is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. References in this press release to peak rates, initial production rates, test rates and other short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long-term performance or of ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production of Bonterra. The Company cautions that such results should be considered preliminary. The reporting and the functional currency of the Company is the Canadian dollar. SOURCE Bonterra Energy Corp.
Forbes
08-08-2025
- Business
- Forbes
As Nonprofits Reach Breaking Point, Agentic AI May Be The Breakthrough
Scott Brighton, CEO at Bonterra. Nonprofits are being squeezed from both ends. Federal funding is vanishing. Demand is skyrocketing. And most advice sounds like: Do more with less. Again. For-profit companies might spend 5% to 10% of revenue just on technology, while nonprofits are pressured to devote less than 25% of their budgets to all overhead—salaries, rent and software. The standard game plan? Diversify revenue. Upgrade systems. Adopt new tech. That may sound strategic—until you're the one trying to implement it, on a shoestring budget, with an overstretched team. For many nonprofits, these solutions feel like more work disguised as progress. They're already operating at their limit. What they need isn't another tool to manage; it's a partner that lifts the burden. Agentic AI Delivers Support—Automatically Imagine logging in Monday morning to find three tailored grant drafts, a half dozen personalized high-value donor emails queued for review and a flagged opportunity from a new local funder, all handled overnight. Agentic AI can do that. Agentic AI does the actual work: identifying grant opportunities, writing proposals, crafting personalized donor outreach and handling repetitive workflows that typically eat up weeks of staff time. It clears the to-do list without demanding more from the team. The result is efficiency and capacity. And more time for what only humans can do, such as build relationships, lead strategy and drive change. Agentic AI both speeds up work and makes impact scalable. What Real Growth Looks Like Growth in the nonprofit world often feels like a gamble, one that usually means stretching limited resources even thinner. But when AI takes on the heavy lifting, growth becomes something else: achievable. Agentic AI takes initiative, executing routine tasks autonomously while keeping humans in the loop for decisions that need nuance or empathy. This shift helps teams move from managing day-to-day demands to focusing more on strategic leadership and impact. In a sector where burnout is rampant, reducing cognitive load while maintaining momentum is transformative. Rebuilding Donor Trust, At Scale Trust is the currency of the social sector, and it's running low. Just 57% of Americans have high trust in nonprofits. And when trust breaks down, donor bases shrink and momentum stalls. Trust is rebuilt with relevance. Donors want to see that their contributions matter—that they're appreciated and part of something real. That's where intelligent automation comes in. By analyzing donor history and behavior, agentic AI can help craft personalized outreach that speaks to each individual's motivations. Humans stay in the loop, guiding the tone, refining the message and making the final call. The result? Smarter, better-timed engagement that feels personal. This is the future of donor relationships: stronger connections and fewer hours lost to repetitive tasks. Rethinking The Grant Game Every nonprofit knows the pain of spending weeks on a major grant application only to walk away empty-handed. The cost is more than time, because time is finite. Wasting it drains morale, momentum and mission-critical funding. Another strategy is hiding in plain sight. Apply for more, smaller grants. Local and state programs often have higher approval rates: 52%, compared to 25% at the federal level. But more grants used to mean more work, and more work is something nonprofits can't afford. That's where agentic AI flips the script. AI agents scan for grants that match your mission and funding history and draft applications automatically. What once took weeks now takes days. Even better? It learns. Agentic AI uses past results to strengthen future submissions. Adding Capacity The truth is that much of the software built for nonprofits doesn't reflect what daily life on the ground looks like. I say that as the CEO of a company that builds it. Too often, it assumes time, training and staff—resources that are already stretched thin. Agentic AI doesn't need to be managed. It just gets things done, working through data and across platforms, bypassing traditional user interfaces entirely. It's an extension of your team. We're shifting from software that consumes capacity to intelligence that creates it. Start With Purpose, Not Just Product Before investing in agentic AI, nonprofits should start with clarity, not about the technology itself, but about the outcomes they're trying to drive. Where is staff time going? Where are opportunities left untouched simply due to a lack of capacity? A clear-eyed operational audit helps identify the highest-impact places AI can accelerate mission delivery. Too often, organizations jump into AI without this alignment, treating it like just another tool to manage. But agentic AI creates real value when it's embedded in daily workflows, not bolted on. So start small: Automate a grant application or reengage lapsed donors. Let the system learn. Let your team build trust in it. None of this works without quality data. Clean, consistent and complete data is the fuel that makes AI work, powering better insights and fewer errors. Start gathering and collecting robust data on your subscribers and their behavior now, so you're ready as agentic AI begins to roll out. In the end, agentic AI is only as good as the leadership behind it. When guided by purpose and paired with strong data and human oversight, it scales impact. A Leap Forward The old model—grind harder, chase more, hope for the best—isn't working. Nonprofits know it. Funders know it. Everyone feels the tension. Agentic AI flips the script. It gives nonprofits the space to lead instead of scramble, to grow without burning out and to act boldly in a moment that demands it. Nonprofits don't need another tool. They need a breakthrough. Agentic AI is it. Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
Yahoo
30-07-2025
- Business
- Yahoo
Meta Platforms (META) Enhances Nonprofit Fundraising With New Facebook And Instagram Integration
Meta Platforms saw its stock price increase by 28% over the last quarter, with several events potentially adding weight to this movement. Among these, the integration of Bonterra's DonorDrive with Instagram and Facebook aimed to enhance nonprofit fundraising, garnering substantial attention. Additionally, Meta's focus on AI advancements and its anticipated second-quarter earnings played a pivotal role, aligning with positive tech market trends. Despite the company's involvement in potential acquisitions and legal matters, these did not divert attention from its core strategic objectives. Overall, these factors collectively influenced Meta's stock performance amidst broader market gains. Be aware that Meta Platforms is showing 1 weakness in our investment analysis. We've found 17 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. The recent news around Meta Platforms, particularly the integration of Bonterra's DonorDrive and advancements in AI, could have significant implications on the company's revenue and earnings forecasts. AI's potential to enhance ad targeting and creativity aligns with expectations for advertising growth, potentially leading to increased revenues. Similarly, business messaging developments using WhatsApp and Messenger may expand Meta's commerce capabilities, potentially impacting profit margins positively. However, the substantial investment in AI and other strategic areas may introduce pressure on profitability if expected enhancements don't materialize timely. Looking at a longer-term perspective, Meta's shares have seen a total return of over 339.38% during the past three years, showcasing exceptional growth. This performance surpasses the broader Interactive Media and Services industry, which delivered a 27.4% return over the past year. Against the overall market, Meta also excelled, outpacing the larger US market's 17.5% one-year return. In terms of price movement, with a current share price of US$700.00, the stock shows a slight discount to the consensus price target of US$756.13. The relatively small gap between the current price and the price target suggests that analysts view the stock as fairly priced, factoring in expected earnings and AI advancements. Overall, the ongoing developments in AI and business messaging are poised to continue influencing Meta's financial trajectory and investor sentiment. Gain insights into Meta Platforms' outlook and expected performance with our report on the company's earnings estimates. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include META. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Globe and Mail
09-07-2025
- Business
- Globe and Mail
Bonterra Announces 2025 Exploration Plans at its 100% Owned Desmaraisville South Project
Val-d'Or, Quebec--(Newsfile Corp. - July 9, 2025) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (" Bonterra" or the " Company") is pleased to provide an update on its 2025 exploration plans at its 100% owned Desmaraisville South Project (the " Project"). During the first half of the year, Bonterra's geology team has diligently worked on a comprehensive reinterpretation of the geological setting surrounding the Bachelor Mill Complex. Leveraging the advanced capabilities of VRIFY's AI-Assisted Mineral Discovery Platform known as DORA, the team has identified several high-potential drill targets. As a result, Bonterra is planning a 10,000 to 12,000 meters (" m") drill program expected to be completed by year-end (See Figure 1, which highlights the targeted areas, including those selected with the assistance of VRIFY's DORA). Marc-André Pelletier, President and CEO commented: "At our 100% owned Desmaraisville South Project, Bonterra's exploration strategy is focused on discovering new mineralized zones near the Bachelor Mill Complex. The 2025 exploration program builds on the success of the 2024 drilling campaign, which identified several high-priority targets. We also plan to test additional promising targets selected with the assistance of VRIFY's DORA. With the recent completion of our upsized financing, Bonterra is fully funded to execute on this year's exploration plans." 2025 Exploration Plans Drill 10,000 to 12,000 m near the Bachelor Mill Complex, including the Mistik 13, Hewfran and other targets, including a predominantly base metals target and VRIFY's AI-generated targets. Carry out field work, focusing on mapping, soil and rock geochemical sampling. Reinterpret the 2023 gravimetric geophysical surveys. To view an enhanced version of this graphic, please visit: Bachelor Mill Complex Bonterra owns 100% of the Bachelor Mill Complex, a strategically important asset for future mining operations within the Desmaraisville camp. The fully operational mill has a current capacity of 800 tonnes per day (" tpd") and is powered by low-cost and sustainable hydroelectric grid power. Permitting is underway to support a potential expansion to 1,800 tpd. The complex also includes a fully equipped assay laboratory capable of processing approximately 6,000 samples per month, as well as a 100-person camp, offices, workshops, and core logging facilities. Qualified Person M. Donald Trudel, (OGQ # 813), Director Geology for the Company, oversees all exploration activities on the Desmaraisville Property and has compiled and approved the information contained in this press release. Mr. Trudel is a qualified person as defined by National Instrument 43-101 on standards of disclosure for mineral projects. About Bonterra Resources Inc. Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company's assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category. In November 2023, the Company entered into an earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties (the " JV Agreement"), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian subsidiary, completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). This strategic transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant step towards development. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Caution regarding forward-looking statements This press release contains "forward-looking information" that is based on Bonterra's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the earn in a joint venture agreement with Osisko Mining announced on November 28, 2023, and the acquisition of Osisko Mining by Gold Fields announced on August 12, 2024. The words "will," "anticipated," "plans" or other similar words and phrases are intended to identify forward-looking information. This forward-looking information includes namely information with respect to the planned exploration programs and the potential growth in mineral resources. Exploration results that include drill results on wide spacing may not be indicative of the occurrence of a mineral deposit and such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets are conceptual in nature and, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the targets being delineated as mineral resources. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets, environmental and other judicial, regulatory, political, and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information.
Yahoo
09-07-2025
- Business
- Yahoo
Bonterra Announces 2025 Exploration Plans at its 100% Owned Desmaraisville South Project
Val-d'Or, Quebec--(Newsfile Corp. - July 9, 2025) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") is pleased to provide an update on its 2025 exploration plans at its 100% owned Desmaraisville South Project (the "Project"). During the first half of the year, Bonterra's geology team has diligently worked on a comprehensive reinterpretation of the geological setting surrounding the Bachelor Mill Complex. Leveraging the advanced capabilities of VRIFY's AI-Assisted Mineral Discovery Platform known as DORA, the team has identified several high-potential drill targets. As a result, Bonterra is planning a 10,000 to 12,000 meters ("m") drill program expected to be completed by year-end (See Figure 1, which highlights the targeted areas, including those selected with the assistance of VRIFY's DORA). Marc-André Pelletier, President and CEO commented: "At our 100% owned Desmaraisville South Project, Bonterra's exploration strategy is focused on discovering new mineralized zones near the Bachelor Mill Complex. The 2025 exploration program builds on the success of the 2024 drilling campaign, which identified several high-priority targets. We also plan to test additional promising targets selected with the assistance of VRIFY's DORA. With the recent completion of our upsized financing, Bonterra is fully funded to execute on this year's exploration plans." 2025 Exploration Plans Drill 10,000 to 12,000 m near the Bachelor Mill Complex, including the Mistik 13, Hewfran and other targets, including a predominantly base metals target and VRIFY's AI-generated targets. Carry out field work, focusing on mapping, soil and rock geochemical sampling. Reinterpret the 2023 gravimetric geophysical surveys. Figure 1: Desmaraisville South Project - Prospective Drill Targets To view an enhanced version of this graphic, please visit: Bachelor Mill Complex Bonterra owns 100% of the Bachelor Mill Complex, a strategically important asset for future mining operations within the Desmaraisville camp. The fully operational mill has a current capacity of 800 tonnes per day ("tpd") and is powered by low-cost and sustainable hydroelectric grid power. Permitting is underway to support a potential expansion to 1,800 tpd. The complex also includes a fully equipped assay laboratory capable of processing approximately 6,000 samples per month, as well as a 100-person camp, offices, workshops, and core logging facilities. Qualified Person M. Donald Trudel, (OGQ # 813), Director Geology for the Company, oversees all exploration activities on the Desmaraisville Property and has compiled and approved the information contained in this press release. Mr. Trudel is a qualified person as defined by National Instrument 43-101 on standards of disclosure for mineral projects. About Bonterra Resources Inc. Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company's assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category. In November 2023, the Company entered into an earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties (the "JV Agreement"), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian subsidiary, completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). This strategic transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant step towards development. FOR ADDITIONAL INFORMATION Marc-André Pelletier, President & CEO ir@ Sullivan Road, Suite 2, Val d'Or, Québec J9P 0B9819-825-8678 | Website: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Caution regarding forward-looking statements This press release contains "forward-looking information" that is based on Bonterra's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the earn in a joint venture agreement with Osisko Mining announced on November 28, 2023, and the acquisition of Osisko Mining by Gold Fields announced on August 12, 2024. The words "will," "anticipated," "plans" or other similar words and phrases are intended to identify forward-looking information. This forward-looking information includes namely information with respect to the planned exploration programs and the potential growth in mineral resources. Exploration results that include drill results on wide spacing may not be indicative of the occurrence of a mineral deposit and such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets are conceptual in nature and, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the targets being delineated as mineral resources. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets, environmental and other judicial, regulatory, political, and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
