Great float, great potential if they could ever find a partner. They have a lot of claims. Even an old Kinross site. Just need a partner to start up operations again.
The company seems to be in a quiet period. Hopefully, we hear some news soon...
Please read from BONZ Annual Report posted 02/24/2020...
Importance of Market Price of Gold The market price of gold has been stong lately. As of February 24, 2020, the bid price per kitco.com is $1,675.28. Bonanza Goldfields has worked hard over the past two years to maintain and grow its properties so that it will be in a position to move forward in an environment of favorable gold prices.
Large and Small Gold Mine Potential Bonanza Goldfields has a large gold exploration property at Goldfied, Nevada (Cupid Gold). Assuming the strong gold market persists, this could be an attractive project for a larger gold company to explore and develop in a joint venture with Bonanza Goldfields.
We also have 15 small mines at Chloride. The Towne Gold Mine, in particular, has been the site of the most recent exploration (trenching by the previous operator). The Towne Mine is located entirely on private ground, with a private millsite in Chloride one mile to the north. This property has the potential to be put in production more quickly (and for far less capital expenditure) than a large gold property.
Description of the Company's Mining Properties
Goldfield, Nevada (Cupid Gold)
During the quarter ended December 31, 2019, the Company acquired an option to purchase the Cupid Gold Project (50 unpatented and 6 patented lode mining claims -- approx. 1,050 acres) located in Esmeralda County, Nevada. This property was previously held by Kinross.
Chloride The company has an option on over 500 acres of mining claims (including 15 named historic gold and silver mines) in the vicinity of Chloride, Arizona. Chloride is in Hohave County, Arizona, 15 miles north of Kingman. During the quarter ended June 20, 2019, the Company acquired two patented mining claims (approximately 40 acres) comprising the Fountain Head Mine located at StocktonHill, Mohave County, Arizona.
Importance of Market Price of Gold The market price of gold has been stong lately. As of February 24, 2020, the bid price per kitco.com is $1,675.28. Bonanza Goldfields has worked hard over the past two years to maintain and grow its properties so that it will be in a position to move forward in an environment of favorable gold prices.
Large and Small Gold Mine Potential Bonanza Goldfields has a large gold exploration property at Goldfied, Nevada (Cupid Gold). Assuming the strong gold market persists, this could be an attractive project for a larger gold company to explore and develop in a joint venture with Bonanza Goldfields.
We also have 15 small mines at Chloride. The Towne Gold Mine, in particular, has been the site of the most recent exploration (trenching by the previous operator). The Towne Mine is located entirely on private ground, with a private millsite in Chloride one mile to the north. This property has the potential to be put in production more quickly (and for far less capital expenditure) than a large gold property.
Description of the Company's Mining Properties
Goldfield, Nevada (Cupid Gold)
During the quarter ended December 31, 2019, the Company acquired an option to purchase the Cupid Gold Project (50 unpatented and 6 patented lode mining claims -- approx. 1,050 acres) located in Esmeralda County, Nevada. This property was previously held by Kinross.
Chloride The company has an option on over 500 acres of mining claims (including 15 named historic gold and silver mines) in the vicinity of Chloride, Arizona. Chloride is in Hohave County, Arizona, 15 miles north of Kingman. During the quarter ended June 20, 2019, the Company acquired two patented mining claims (approximately 40 acres) comprising the Fountain Head Mine located at StocktonHill, Mohave County, Arizona.
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