New PEA lifts value of Bonterra’s Quebec gold project to $665M - The Northern Miner

AI desk brief

Bonterra’s new PEA on the Barry gold project in Quebec lifts after-tax NPV to $665M (US$465M) at a 5% discount rate, versus $48.3M in the 2022 study, mainly on an expanded underground-plus-open-pit plan and a US$3,500/oz long-term gold assumption. The study targets 697,000 oz over 7.2 years at 87,097 oz/yr, with $119M initial capex, $480M total capital, and AISC of $3,017/oz.

The project remains early-stage: Gold Fields has not endorsed the PEA, and the study is not a development decision. Barry’s resource remains open at depth, and management/ATB Cormark highlighted exploration upside; Bonterra shares were flat at 13c in Toronto.