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Wallbridge Mining Company Ltd T.WM

Alternate Symbol(s):  WLBMF

Wallbridge Mining Company Limited is a Canada-based company, which is engaged in the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend in Quebec's Northern Abitibi region. The Company is focused on advancing its 100% owned Fenelon project and Martiniere project. The projects are situated within the Company's approximately 830 square kilometer (km2) Detour-Fenelon Gold Trend Property located in the Nord-du-Quebec administrative region approximately 75 kilometers (km) west-northwest of the town of Matagami, in the province of Quebec, Canada. Its Detour-Fenelon Gold Trend projects include Casault, Detour East, Grasset Gold, Harri and Doigt. The Company owns a 100% interest in the Nantel property. Its other gold assets include Hwy 810, Beschefer and N2 Property. The Grasset gold property is located immediately east of and adjoins the Fenelon property. The Company also holds approximately 15.8% interest in the common shares of NorthX Nickel Corp.


TSX:WM - Post by User

Comment by penguinwinson Nov 21, 2012 4:40pm
211 Views
Post# 20629162

RE: WEIRD

RE: WEIRD

Technically they have not borrowed any money but have it in place for when they needed it. They also got a good cash injection of 1.5m to get things rolling at a premium. They could have sold shares to get that money but I believe they are not going to give away any DM shares on specualtion that they will be worth way more. The Callinan financing most likey was only agreed upon because of the DM shares, knowing they have those assets as collateral. Also Callinan has offered in three years to purchase smelter royalties for 2m, the size of the LC basically stating that they believe it will go into production and the smelter royalties are what they are in business of buying. I think this is a big win for WM. Hardly any dilution, get to keep all the DM shares and can move forward quickly in sudbury. It is not easy getting money right now without liquidating which is obvious they do not want to do that. I plan on buying more at these prices when I can. 

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