Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Bonterra Resources is raising C$27 million through a private placement of flow-through shares for exploration of its various properties in Canada. The lead agent in the deal is Sprott Capital Partners.
The offering consists of three parts: 1) 6 million units at a price of C$2.50 each; 2) 1.67 million flow-through units at a price of C$3.00 each; and 3) 1.63 million super flow-through units at a price of C$4.30 per unit. Each flow-through and super flow-through unit consists of one Bonterra common share and one-half of one purchase warrant.
The agents have also been granted a 15% over-allotment option and a cash fee equal to 6% of the gross proceeds.
Bonterra has one gold development project – Barry – and several gold exploration projects in Quebec. Both the Gladiator and Moroy projects are in the advanced exploration stage and wholly owned by the company. Other exploration projects include Duke, Hewfran, Lac Barry, MJL-Hansen and Nelligan gold properties. Bonterra also owns the Bachelor Lake gold mine, also in Quebec.
(This article first appeared in the Canadian Mining Journal)
