Shares of Bonanza Goldfields Corp. (OTCPK: BONZ) are surging today on the news that the company has entered into an agreement with Hondo Minerals Corporation to add the O'Brien Mine to its Golden Gem Project.
The O'Brien Mine consists of a number of historic shafts, pits and other mine workings. The property is comprised of three unpatented lode mining claims (approximately 32 acres) that Hondo Minerals acquired by staking in 2011 and recently relocated.
The addition of the O'Brien Mine fills a missing link in the Golden Gem claim position. The Golden Gem Mine is located 10 miles (about 16 kilometres) north of Kingman, Arizona. Hondo Minerals will receive 7,500 shares of BONZ Series B Preferred Stock as the purchase price.
Shareholders cheered the acquisition by sending shares of BONZ higher to the tune of 28.57% in mid-day trading. At last check, shares were trading at $0.0018, about mid-way through the company’s 52-week trading range
