BONZ – Fridays close .039 a high of .044
Bonanza Goldfields Corp. BONZ (“Bonanza”) engages in the acquisition, exploration and development of natural resource properties located in the U.S., primarily in the State of Arizona. The Company owns a total of two unpatented placer mineral properties on 320 acres in the Black Rock Basin (“BRB Claim Group”), located 25 miles southwest of Wickenberg in Maricopa County, Arizona. Through prior, extensive sampling, BONZ has identified exceptionally high-grade values of gold, silver, lead and zinc anomalies within this Claim Group.
BONZ has laid the groundwork to begin trenching and sampling in the BRB Claim Group. To assist in these efforts, the Company has retained property manager, Gold Explorations LLC, whose team has in-depth experience in executing exploratory programs on BRB. In partnership with Gold Exploration, BONZ expects to move its acquired properties into bankable/producing properties by mid-2010. The Company’s established infrastructure, expertise and assets in the BRB create a profitable platform to pursue additional acquisitions that continually expand its portfolio and increase shareholder value.
A sharp downturn in the US economy, a tightening credit market and shaky consumer confidence continues to drive up the price of gold. As the US dollar weakens compared to other world economies, investors are seeking the security and stability of gold. World spot gold prices topped over $1,000 per ounce in September 2009, surpassing its highest since March 2008. As the US crawls out of its economic downturn, many analysts predict gold prices will continue to skyrocket from $1500 to $1800 or more per ounce over the next several months.
For more information:
http://www.bonanzagoldfields-ir.com/projects.php
http://www.bonanzagoldfields.com/
http://finance.yahoo.com/q?s=BONZ.OB
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