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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

Post by mercedesmanon Feb 24, 2022 2:15pm
210 Views
Post# 34458946

Closing of Bought Deal...

Closing of Bought Deal......willl also likely bring with it the closing of the accompanying short program...

As of Feb 15  there were 12.6 M shares short.

based on average trading volume, it would take about 20 days of trading volume to clear out all of the short positions.

Now factor in higher gold prices and the need for producers to replace the oz's pulled out of the ground, before thier competitors do.  (Note: Majors are notoriously bad at finding their own oz's)

Now factor in the demand from those new to Gold miners/explorers that are looking for a place to park their money as the general markets head south (see Ukraine and rising interest rates)

In short, demand for shares will exceed supply for the next several months at least.

Now that they are all cashed up for 2022 exploration and resource expansion, I would think that we have seen the bottom.

Onward and upward.

MM
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