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$BONZ .0047 - Merger must be close - Bonanza Goldfields Corp. : Plan Of Merger & Reduces Debt
12/21/2020 | 10:31am EST

Bonanza Goldfields Corp. (OTCPINK: BONZ) From company filings - On October 1, 2019, the company adopted a plan of merger, which was effective December 29, 2019, with eight (8) companies holding options on the following properties. https://bit.ly/3r8jMuR

The company sold its Thunder Mountain asset and because of the sale, the Company will reduce debt by $130,000. The Company's total debt was approximately $272,000 at 9/30/19. The Company will also retain a 1.25% net smelter royalty (NSR) on Thunder Mountain. https://bit.ly/3jrgfUG

As of March 31, 2020, Bonanza Goldfields Corp. total assets are $659,279, and total liabilities are $324,702. The assets outweigh the liabilities which is extremely rare to see in the OTC. https://bit.ly/2CFD4U7

Georgette Boele, senior precious metals strategist at ABN AMRO, said in a 2021 outlook report that gold will continue to garner support as a "new normal" is established throughout financial markets. The bank sees gold prices averaging next year around $1,950 an ounce, with gold prices trading around $2,100 an ounce by December 2021.

https://www.marketscreener.com/quote/stock/BONANZA-GOLDFIELDS-CORP-5079194/news/Bonanza-Goldfields-Corp-Plan-Of-Merger-Reduces-Debt-32061777/