RE:What about the number of sharesbossu wrote: 2020-05-22 15:08 ET - News Release
Shares issued 591,666,961
and you add Pursuant to the arrangement, Balmoral shareholders have received 0.71 of a common share of Wallbridge in exchange for each Balmoral share held immediately prior to completion of the arrangement. In the aggregate, 130,556,944 Wallbridge shares were issued under the arrangement to Balmoral shareholders .
So the new number of shares is
591 666 961 + 130 556 944=723 000 000
Absolutly non sense and at $ 1,35 /sh
give a market value of $ 976 M
for a non production assets.
Wallbridge could easily be a producing miner soon although I agree at at a low production rate
once they get all permitting in for a bulk sample. I don't think that production is their focus though and will probably be a fall back option if things take longer than anticipated regarding exploration success in the coming year.
They are in very exclusive group of you might say large cap exploreres but they are not alone. Other explorer only companies with a similar market cap would include:
Great Bear Rescources 580k
New Pacific Metals 858k
Seabridge Gold 1.4B