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American Bonanza Gold Corp. (BZA:CA)
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Web site:
http://www.americanbonanza.com/s/Home.asp
American Bonanza Gold Corp. (TSX: BZA) explores and develops gold mining projects in pro-mining areas of the United States and Canada. Bonanza's main objective is to bring the advanced stage, 100% owned, Copperstone gold property in Arizona into production during 2010. A substantial milestone in this process is the recently completed feasibility study which indicates a robust economic profile associated with building and operating the mine.
The Copperstone property contains a 10.3 g/t oxide gold resource with 313,000 ounces of gold in the Measured and Indicated categories and 256,000 ounces of gold in the Proven and Probable Mineral Reserves category. Results from the feasibility study indicate pretax cash flow from the mine operation totals US $104 million. The potential to expand the gold deposits at Copperstone near the underground mine workings is excellent. The mineral reserves are open to depth where the potential is undrilled. The second area of potential is near the south end of the planned mine workings and is quantified as an Inferred resource. See the February 3, 2010 news release for further details, assumptions and risks associated with the feasibility study.
Bonanza continues to optimize other assets to benefit the development of Copperstone, where permitting is underway. Bonanza is well financed with no long-term debt and no gold hedges.
Links:
BZA:CA
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