Wallbridge Mining Company Ltd T.WM

Alternate Symbol(s): WLBMF

Metals & Mining Industrial Metals & Minerals

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.

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Wallbridge Mining Company Ltd > there was no positive cash flow from bulk sample to fund any

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Comment by YetAnother1on Dec 10, 2020 4:36pm

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Post# 32081939

RE:RE:RE:RE:there was no positive cash flow from bulk sample to fund any

Harmonicaaa wrote:

Harmonicaaa wrote:

YetAnother1 wrote:

montybissett wrote: thing. it was a huge positive because it funded infrastructure needed for the future to the tune of 20 million. Since then price of gold up 600.00 an ounce. So you can imagine how important that bulk or mining soon is for wm and it's shl

That sounds about right.

Well, lets put it this way, if you call selling shares for cash and then use that cash to do a bulk sample that generates $20 odd million then sure it generates cash. But what Im saying is that it cost more than $20m to generate $20m in revenue. And you can take that to the bank. Eh :)

H

Tunneling, mine workings from previous years, camps, certain infrastructure, settling ponds perhaps, access road costs from the past, basically everything they poured into the property cost wise, add it all up, offset the revenue from all bulk samples to date and they are losing money. Why, because its basically all at the test phase to see if its economic. Once they go into full production with economies of scale that changes. In the meantime, they are generating the cash from the sale of shares, not from mining at a profit.

H