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Bonanza Mining Corporation ( (TSE:BNZ) ) has issued an update.
Bonanza Mining Corporation has closed two mineral property purchase and sale agreements, converting previously negotiated options into outright ownership of the Shag and Frog properties in British Columbia. The company issued post-consolidated common shares and granted 3% net smelter return royalties to the vendors, consolidating its interest in zinc-lead-silver and zinc-lead-silver-copper claims in proximity to notable regional mining operations.
One agreement covers five zinc-lead-silver claims at the Shag property with director Christopher Graf, while the second involves eight zinc-lead-silver-copper claims at the Frog property acquired from Graf and arm’s-length party Theodore Muraro. As the transactions involve a related party, Bonanza relied on exemptions under Canadian securities rules for formal valuations and minority approval, and all shares issued are subject to a hold period, underscoring a longer-term strategic commitment to these assets.
More about Bonanza Mining Corporation
Bonanza Mining Corporation is a Vancouver-based mineral exploration company listed on the TSX Venture Exchange under the symbol BNZ. The company focuses on acquiring and advancing base and precious metal properties in British Columbia, with an emphasis on zinc, lead, silver and copper projects in established mining districts.
Average Trading Volume: 22,535
Technical Sentiment Signal: Hold
Current Market Cap: C$1.86M
Find detailed analytics on BNZ stock on TipRanks’ Stock Analysis page.