Bonterra Resources Inc.
Climate Impact & Sustainability Data (2024-01-01 to 2024-09-30)
Reporting Period: 2024-01-01 to 2024-09-30
Environmental Metrics
ESG Focus Areas
- Sustainability
Environmental Achievements
- Revised scope of Bachelor Mill Complex expansion to 1,800 tpd, maintaining tailings management facility capacity.
- Submitted updated closure plan for Bachelor Mill Complex in June 2024, pending MRNF review and approval.
- New closure plan for Barry Mine approved by MRNF in February 2024.
Social Achievements
- Appointment of Lesley Antoun to Board of Directors, bringing 30 years of leadership experience and pursuing Sustainability and ESG Certification.
- Engagement with First Nations organizations through Lesley Antoun's consulting firm.
Governance Achievements
- Shareholders approved all matters voted on at the 2024 AGM, including director re-elections and appointment of auditors.
- Appointment of Matthew Houk to the Board of Directors, serving on the Audit and Risk Management Committee and Technical, Safety and Sustainability Committee.
Climate Goals & Targets
Short-term Goals:
- Complete drilling of 4,000-6,000m at Desmaraisville South Project in Q4 2024.
- Drill 500m at Nelligan JV in collaboration with O3 Mining.
Environmental Challenges
- Regulatory review process for Bachelor Mill expansion is lengthy, complex, and costly.
- Uncertainty regarding future profitability of mineral deposits due to factors like commodity prices, exchange rates, and political interference.
- Meeting working capital requirements and funding exploration programs.
Mitigation Strategies
- Revised scope of Bachelor Mill expansion to reduce costs and complexity.
- Pursuing alternative funding programs in addition to equity financing.
- Securing insurance bonds to cover closure costs.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: NI 43-101