Jump to content
Sign in to follow this  
drbubb

Wallbridge (WM.t) and its Fenelon Mine

Recommended Posts

GCM got down under 8X WM - sell 8000 WM.t, to Buy > 1000 GCM.t

5O5Xv2X.png

Ratio: 8.59:1 now on price... that is: C$3.52 / 0.41

But what about the number of shares outstanding?  

Based on figures in Stockhouse, I get this:

Wallbridge ( 330 M shs) / Gran Columbian ( 48.3 M shs) = that's r- 6.83 on shares OS

We can also look at the Ratio of Market Caps:

Gran Columbian ( C$3.52 x48.3M= C$170M) / Wallbridge ( C$0.41 x391.0M= C$160.3M) = 1.061

When people try to tell you "WM is now cheap!" - Consider thaT GCM is now PRODUCING over 225k oz per annum.

and it itself has a growing Gold resource. 

Wallbridge will certainly need far more than C$10 million to properly develop its growing Gold Resource,

With the difference in market caps now being just 6%, maybe the Dreamers who like WM are paying up for a dream

Share this post


Link to post
Share on other sites

Point well made Dr B. Maybe the dreamers are really cheerleaders for Sprott buying, I think that, as much as anything is what has propelled this share lately.

Share this post


Link to post
Share on other sites

SPROTT on Pause?

RE:More from Sprott

The filings including 7 May shows Mr. Sprott owning 19.985% of CS outstanding. There appears a reason he held at this level up to this point. Best to all in your upcoming Wallbridge decisions.
 
/ 2 /
 
I don't see what the problem is here.
Yes the magic number is 20%. But all that buys you is every other transaction has to be voted on.

Read more at https://stockhouse.com/companies/bullboard#8C9qe8Dg78JHIQPb.99

Share this post


Link to post
Share on other sites

Wallbridge Announces Closing of $7M Private Placement with Eric Sprott

T.WM

TORONTO, May 15, 2019 /CNW/ - Wallbridge Mining Company Limited (TSX:WM), (FWB: WC7) (the "Company" or "Wallbridge") is pleased to announce the closing of the previously-announced non-brokered private placement financing (the "Offering") of 29,166,667 common shares (the "Common Shares") at a price of $0.24 per Common Share for gross proceeds of $7,000,000 to Eric Sprott ("Sprott"), through 2176423 Ontario Ltd., a company beneficially owned by Sprott.

The closing of the Offering was conditional on Sprott exercising 1,666,667 Common Share purchase warrants at an exercise price of $0.15 and 15,000,000 Common Share purchase warrants at an exercise price of $0.20 for aggregate gross proceeds to the Company of $3,250,000 (collectively the "Warrants"). The Warrants were exercised in February 2019.

The closing of the Offering was also conditional on receipt of approval from the Company's shareholders at Wallbridge's Annual and Special meeting of shareholders held on May 8, 2019 (the "ASM"), as, according to the rules and policies of the Toronto Stock Exchange ("TSX") the completion of the Offering will result in Sprott being able to materially affect control of the Company. A total of 231,265,771 votes, or 96%, were cast by ballot at the ASM in favour of the resolution to confirm, approve and ratify the Offering.

All securities issued pursuant to the Offering are subject to a statutory hold period expiring four months and one day following issuance of the securities in accordance with applicable securities legislation.

The gross proceeds of the Offering will be used for general corporate purposes.

The Offering constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as Sprott, a reporting insider of the Company subscribed for 29,166,667 Common Shares pursuant to the Offering.  The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by Sprott does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

Sprott, through 2176423 Ontario Ltd., acquired 29,166,667 Common Shares pursuant to the Offering. Prior to the Offering, Sprott beneficially owned or controlled 87,220,396 Common Shares of the Company representing approximately 19.9% of the issued and outstanding Common Shares of the Company on a non-diluted basis. As a result of the Offering, Sprott beneficially owns or controls 116,387,063 Common Shares of the Company representing approximately 24.9% of the issued and outstanding Common Shares of the Company on a non-diluted basis.

The Common Shares were acquired by Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open marke


Read more at https://stockhouse.com/news/press-releases/2019/05/15/wallbridge-announces-closing-of-7m-private-placement-with-eric-sprott#703yAUWShAz8bRKd.99

Share this post


Link to post
Share on other sites

Managed buy a few of these back from previous posts but the last few days spike have been too good to resist.

Sold half yesterday at 40.5 and 40, any spike today on strong gold and I’m out completely.

This has been such a good flip trade, almost by chance against T.GCM

Share this post


Link to post
Share on other sites

maybe Look at some others I own: ROXG.t, HRT.t, RRI.v

Share this post


Link to post
Share on other sites

I’ve had a nice return on Roxg already when it popped, was holding off hoping it would go under $1 again but seemingly unlikely. (Edit, should say I got impatient and bought back, still might add more).

Intrigued by your SWN comments and watching that closely. Right now Aurelia (ASX:AMI) which is pretty battered and Steppe Cement (STCM.LSE) well off peak, yielding a high dividend  (something got to give), have my attention the most.

 

Share this post


Link to post
Share on other sites

Cursing I missed the chance to switch some out of GCM last week, which I mentaller called but holidays distracted me. Good few days here, the latest wave seems to have gone though, so waiting to see if there’s any pullback now.

Share this post


Link to post
Share on other sites

Sold some more WM yesterday.  Still over 100K to go

Share this post


Link to post
Share on other sites

Small batch back at 41c this week, looking for a small flip on gold strength alone.

Share this post


Link to post
Share on other sites
On 8/24/2019 at 4:17 AM, jerpy said:

Small batch back at 41c this week, looking for a small flip on gold strength alone.

Added to this yesterday and today first thing, nice little bounce, maybe still too early but looked a bit oversold to me.

Share this post


Link to post
Share on other sites

Yup.  I wanted to buy some too, but was looking for a little lower re-entry price

Share this post


Link to post
Share on other sites

Took easy gains early on, didn’t want to give them back. I’m out for now.

Share this post


Link to post
Share on other sites

Wallbridge Mining Company

Brian Penny, CFO
TSX: WM

Share this post


Link to post
Share on other sites

Sadly missed the update spike which closed at 43.5c today, sat on sidelines being too greedy on my entry points. Hindsight huh.

Share this post


Link to post
Share on other sites

I am still on the sidelines, awaiting a move outside the extremes of the range before I buy or sell more

Share this post


Link to post
Share on other sites

UPSIDE test or breakout !

 
0.47
Change:
arrow +0.035
Open:
0.435
High:
0.475
Low:
0.425
Volume:
3,082,812

WM.t ... chart

dev60aD.gif

gaps suck energy often, but 3M shares shows there is fuel left

Share this post


Link to post
Share on other sites

Huge drill hole needed to get WM.t stock to C$0.50... but not until Friday

dbZYmZG.gif

Date ET Symbol Price Type Headline
2019-10-22 07:55 C:WM 0.375 Resume Trading Wallbridge Mining to resume at open
2019-10-21 17:59 C:WM 0.375 News Release Wallbridge drills 38.39 m of 27 g/t Au at Fenelon
2019-10-21 14:00 C:WM 0.35 Halt Trading Wallbridge Mining halted at 10:54 a.m. PT

WALLBRIDGE EXPLORATION DRILLING INTERSECTS 27.00 G/T AU OVER 38.39 METRES IN THE TABASCO ZONE

Wallbridge Mining Company Ltd. has released assay results from the continuing 70,000- to 80,000-metre 2019 drill program, which is continuing to follow up the Area 51 and Tabasco discoveries and outline a large gold system, at its 100-per-cent-owned Fenelon gold property.

Drill hole FA-19-086, which was visually described in the last Wallbridge press release dated Oct. 9, 2019, assayed 27.00 grams per tonne gold over 38.39 metres in the Tabasco zone at a vertical depth of 500 metres, further demonstrating the significant gold endowment of the gold system at depth. Further assay results from this hole are pending.

"This interval released from hole FA-19-086 is a truly spectacular intersection with strong gold mineralization throughout the over 38-metre core length that has been assayed so far," stated Attila Pentek, vice-president, exploration, of Wallbridge. "We are keenly awaiting further assay results of surrounding batches from this hole, which, based on the mineral assemblages described, should carry some additional gold mineralization. Holes FA-19-090 and FA-19-092, 100 to 150 metres away, also returned mineralized intersections of significant width along with some visible gold mineralization in the Tabasco zone. These new intersections, for which assays are not yet available, along with 20.89 g/t Au over 8.54 metres, intersected in FA-19-052 (Tabasco), 17.58 g/t Au over 11.04 metres in FA-19-059 (Cayenne) and 5.50 g/t Au over 10.96 metres in FA-19-065 (Tabasco), make us very excited about the potential of the Fenelon gold system at depth."

Share this post


Link to post
Share on other sites

WM.t hit a high of C$0.64 yesterday

Closed at $0.53 - 0.06, -10.17%, on 2.48M shares

h1kWdq6.png

Ratio to GCM hit 13.6%, closed at 11.3% - may retrace to 10% or lower possibly

tBlI7ap.png

Share this post


Link to post
Share on other sites

2019-10-29 09:07 ET - News Release

Mr. Marz Kord reports

WALLBRIDGE EARNS 20% OWNERSHIP OF LONMIN CANADA INC THROUGH OPERATORSHIP AGREEMENT AND CREATES SEPARATE COPPER-NICKEL-PGM GROUP

Wallbridge Mining Company Ltd. has signed a definitive letter agreement whereby Lonmin Ltd. (a wholly owned subsidiary of Sibanye-Stillwater) has appointed Wallbridge as operator of Lonmin Canada Inc.'s Loncan, a wholly owned subsidiary of Lonmin Ltd.'s Lonmin advanced-stage Denison property. Pursuant to the terms of the agreement, Wallbridge has received a 20-per-cent ownership interest in Loncan and a seat on Loncan's board of directors. A copy of the agreement can be found on the company's SEDAR profile.

"This agreement complements Wallbridge's strategy of separating its gold and base metal assets and enables work on the Sudbury-area properties to be funded entirely within privately held Loncan. Distinct operating teams will advance development of our Fenelon gold property and will work to unlock the value of our copper-nickel-PGM assets separately. The agreement allows our existing, dedicated, Sudbury-based team to continue their work of generating value from the copper-nickel-PGM assets with resources independent of those driving our gold strategy," stated Marz Kord, president and chief executive officer of Wallbridge. "With the entering into of the agreement, I am also very pleased to announce that Francois Demers, vice-president, mining and projects of Wallbridge, has been appointed to lead all Wallbridge matters as they relate to Loncan in addition to Wallbridge's existing joint venture agreements with Lonmin."

Aside from the existing joint venture agreements with Wallbridge, Loncan owns 100-per-cent mining interest in the Denison property, which was previously part of Loncan's Sudbury platinum group metals joint venture agreement with Vale Canada Ltd.

Loncan's Denison property highlights:

  • Significant historic resources of typical contact and footwall-type Ni-Cu-PGM mineralization of potential economic grades. All resource reports were internal company resource estimates that were generated for different orebodies on the project without following National Instrument 43-101 requirements and represent an excellent opportunity to compile into a global NI 43-101 resource;
  • Highlight intersections from drilling in recent years (currently not part of any resource estimate) include 1.69 per cent Ni, 2.28 per cent Cu and 2.37 grams per tonne platinum, palladium and gold (total precious metals, TPM) over 8.23 metres in the 99 Shaft zone, and 1.87 per cent Ni, 0.95 per cent Cu and 3.14 g/t TPM over 6.16 m in the 109 West zone;
  • Advanced-stage property, near-term to production with a current closure plan;
  • Historic shaft (4,000-foot Crean Hill mine shaft) and underground infrastructure in place.

"The first order of business will be to combine all historic resources on the Denison property into one complete NI 43-101 compliant resource estimate and to complete an economic study," stated Mr. Demers.

Share this post


Link to post
Share on other sites
On 10/30/2019 at 11:16 AM, drbubb said:

2019-10-29 09:07 ET - News Release

Mr. Marz Kord reports

WALLBRIDGE EARNS 20% OWNERSHIP OF LONMIN CANADA INC THROUGH OPERATORSHIP AGREEMENT AND CREATES SEPARATE COPPER-NICKEL-PGM GROUP

Wallbridge Mining Company Ltd. has signed a definitive letter agreement whereby Lonmin Ltd. (a wholly owned subsidiary of Sibanye-Stillwater) has appointed Wallbridge as operator of Lonmin Canada Inc.'s Loncan, a wholly owned subsidiary of Lonmin Ltd.'s Lonmin advanced-stage Denison property. Pursuant to the terms of the agreement, Wallbridge has received a 20-per-cent ownership interest in Loncan and a seat on Loncan's board of directors. A copy of the agreement can be found on the company's SEDAR profile.

"This agreement complements Wallbridge's strategy of separating its gold and base metal assets and enables work on the Sudbury-area properties to be funded entirely within privately held Loncan...

"The first order of business will be to combine all historic resources on the Denison property into one complete NI 43-101 compliant resource estimate and to complete an economic study," stated Mr. Demers.

So a few people got a sniff of Lonmin news! 

Anyhow, it’s bouncing back again after profit taking.

Share this post


Link to post
Share on other sites

Some move, the last spike went nicely into the 70’s, jumped on late I suppose but rode an 18c gain before cashing out earlier this week.

Watching with interest where WM settles, it might be a cashout too soon I regret, didn’t want to make same “error” as with GCM of not banking a good move up.

Share this post


Link to post
Share on other sites
41 minutes ago, jerpy said:

Some move, the last spike went nicely into the 70’s, jumped on late I suppose but rode an 18c gain before cashing out earlier this week.

Watching with interest where WM settles, it might be a cashout too soon I regret, didn’t want to make same “error” as with GCM of not banking a good move up.

Me too. 

I am OUT now, made a beautiful profit, but cleared out the last of my, probably too soon,

Best of luck to those still holding.  Will consider a Reload on any sizeable drop

Share this post


Link to post
Share on other sites
15 hours ago, drbubb said:

Me too. 

I am OUT now, made a beautiful profit, but cleared out the last of my, probably too soon,

Best of luck to those still holding.  Will consider a Reload on any sizeable drop

Good timing for us both big drop today back down to 61c (above 15% drop) from previous day close of of 72c!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×