dutchmann64 wrote: Reachme wrote: YetAnother1 wrote: dutchmann64 wrote: Reachme wrote: I'm looking for an entry point but the low volume is holding me back for now
You missed it!! The entry point was last week when it was as low as $0.76 . Do not hold your breath as this is only going up in my opinion. The fundamentals are great and we have a lot of big hands in at much higher cost invested. Do your due diligence as this is an explorer and shite does happen.
Cheers! Dutch
I have a feeling Dutch is right.
mostly about the shite does happen!
Same here thanks
Following are the highlights from the Bought Deal that happened and announced back in October;....have a read and note whom the players are. You will be in good company. (IMHO) They are not here to take a haircut. Yes current conditions are putting pressure on the share price but I feel once the resource estimates come out ( later 2021 ) and mining permit is finally issued, we will push SP in the $1.50 range. Yes Shiite happens so be prepared to reap what you sow. Do your due diligence.
- Wallbridge Mining (WM) has completed a bought deal offering after raising C$63.8 million in gross proceeds
- The company issued an aggregate 55.5 million of its common shares at a price of $1.15 per share
- Some shares resulted from the exercise of an over-allotment option by underwriters, who acquired 6.5 million common shares
- The proceeds of the offering will be used to advance the company’s Fenelon Gold Project, and for general corporate purposes
- Wallbridge Mining (WM) is down 1.89 per cent and is currently trading at $1.04 per share
Wallbridge Mining (WM) has completed a bought deal offering after raising C$63.8 million in gross proceeds.
Through the offering, the company issued an aggregate 55.5 million of its common shares, at a price of $1.15 per share.
Some of those shares were issued as a result of the underwriters partially exercising the over-allotment option. The underwriters consisted of the lead underwriter and sole bookrunner BMO Nesbitt Burns Inc, along with Eight Capital, RBC Dominion Securities Inc, and Paradigm Capital Inc.
By exercising the over-allotment option, the underwriters acquired 6.5 million common shares in Wallbridge, also at a price of $1.15 per share.
Wallbridge Mining’s fellow TSX-listed mining company, Kirkland Lake Gold (KL) also participated in the company’s bought deal offering. In total, Kirkland acquired 20 million common shares in Wallbridge, in order to increase its ownership interest in the company to approximately 9.9 per cent.
Kirkland’s interest in the company was increased on a non-diluted basis, in accordance with certain non-dilution rights. These rights were granted to Kirkland through the terms of a participation agreement between the two companies back in December of 2019.
The underwriters were paid a five per cent cash commission on the offering’s gross proceeds, although this did not include Kirkland’s participation.
The $63.8 million in gross proceeds from the offering will be used to continue the advancement of Wallbridge’s Fenelon Gold Project. Some funds may also go towards to the company’s general corporate purposes.