Wallbridge Mining Company Ltd T.WM

RE:RE:RE:RE:RE:Cash

[MandalorianFett]

MandalorianFett wrote:

MandalorianFett wrote:

goldhunter11 wrote: $45.8M is quite a bit of cash. They can do both Fenelon area 51, 50 and 52...and then produce the RE for Fenelon, and update  Martiniere/Bug Lake Technical Report.

If they want to speed up the process WM could option Martiniere/Bug Lake to a major (like KL) so KL could move in haft a dozen drills making Swiss cheese out of this west end property, leading to a Feasibility Study.

Actually, KL does not even need to have a FS, but they may want to do it anyway to show to their own shareholders that they have a good basis for a take-over of WM (KL already has an insider, Tony M., at WM BoD).

From info available in the current Technical Report, there is a good chance for showing that Martiniere/Bug Lake is economically viable. With further development this area could be shown to have an RE > 1Moz, and the distance to the Detour mill is less than 20km. This is easy trucking distance. They could even consider other transportation methods...slurry pipeline, ore conveyor belt?

GH11
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YetAnother1 wrote:

MandalorianFett wrote: WALLBRIDGE MINING COMPANY LIMITED Condensed Interim Statements of Financial Position (expressed in Canadian Dollars) (Unaudited) Note March 31, 2020 December 31, 2019 Assets Current assets: Cash and cash equivalents $ 45,870,478

Just in case Dutch missed it.

 

Possible. the Goldex mine in Val d'or Quebec has a slurry pipeline thats gotta be at least 15 km long. Conveyors are too expensive on upkeep. And if they put in a pipeline they gotta put in a road to put in the pipe. So trucking is always an option, but the cheapest might be a slurry line. I suppose I could give them a special rate to haul it in the trunk of my taxi also.

Boba

Here you go.  23 km long.

Half of the tailings from the flotation process are shipped to the new paste backfill plant and mixed with Portland cement to form a paste which consists of 77% solids. This paste is pumped underground to fill and solidify the stopes from which ore has been extracted. The remaining tailings are used to restore the old Manitou mine site, a project being carried out in partnership with the Quebec government. The Goldex tailings are inert and alkaline, properties that favor their use in reclaiming the Manitou site. They are pumped to this former mine site through a 23 km-long pipeline.

Boba will be expanding into the pipe selling business as of next week.


Boba

They cover the old acid generating tailings of a former producer with their own neutral tailings. Or so I read down here in the Malibu Beach mining journal.

Boba