Wallbridge Mining Company Ltd T.WM

KL 74% increase in gold at Detour may help WM

[Goodtoreadthis1]

WM currently has a JV  with Kirkland Lake involving what WM calls Detour East . Today KL forecast a 74% increase in production at their nearby Detour Gold mine and if those veins travel to Detour East WM should see a real boost in share price as a result. 

https://www.kitco.com/news/2021-03-31/Kirkland-Lake-eyes-74-production-increase-at-Detour-Lake-by-2032-envisions-22-year-mine-life.html

[Stockpicks96]

Thanks for sharing this article, great find. 

[jcw604]

Wouldn't this be bad for Wallbridge, if Detour is not running out of gold, and KL is not buying WM out?

[dutchmann64]

That is one way to look at it;...however they are in business to grow this company and become a large producer.  If they sit on it and make no play for WM then others will be making the move and would be in their back yard so to speak.  This would create a competition for the limited "resources" needed to run a large company in a remote area. There are many reasons and one

[YetAnother1]

I mostly agree. More gold at Detour @ 0.7 gpt is garbage compared to Five+ @ Fenelon. Maybe! Also, I thought I read that KL said Detour production drops off after 2025 for a couple of years. Maybe too soon for Fenelon to fill in that drop but I leave that to the experts on such things

[jcw604]

KL is probably only interested if WM's SP keeps climbing. In the current environment, they feel no pressure to pull the trigger. It is a funny thing. When you can get it cheaper, you tarry. When it is really expensive, you hurry up. I think WM is unlike GTT, that is much smaller in MC. Newmont can basically buy a few of these little guys and dollar average the cost them, because you never know