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Wallbridge (WM.t) and its Fenelon Mine

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SMART PEOPLE PAID $1.15 (& higher) for this stock in October

  • WM.t / Wallbridge Mining... 3yr: 6mo: 10d / Last: C$0.82 - 0.01 / SH

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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. 

> More:  https://stockhouse.com/companies/bullboard?symbol=t.wm&postid=32036960

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Wrap: Sprott Money News Weekly Wrap-up

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Fenelon Canada’s Next Major Gold Camp - November 2020 Update

The camp has generated significant interest from legendary investor Eric Sprott as he is a big shareholder in Wallbridge Mining and Great Thunder Gold. The area continues to develop alongside other companies in the region looking to make a discovery.

I have updated the report to bring you up to speed on the developments and progress made by the companies within the camp since the last article.

The Big Players:

1. Wallbridge Mining Co Ltd. (WM.TO):

  • Wallbridge has continued to show why the Fenelon Project has the potential to be Canada’s next high-grade deposit. Just some of the highlight intercepts since our last update:
    • 308 G/T GOLD (8.98 OZ/TON) OVER 2.97 METRES
    • 858 G/T (25.03 OZ/TON) GOLD OVER 1.06 METRES
    • 70.84 G/T AU OVER 5.35 METRES
    • 32.26 G/T AU OVER 7.05 METRES
    • 4.06 G/T GOLD OVER 51.70 METRES
    • 4.88 G/T GOLD OVER 18.95 METRES
    • 24.61 G/T GOLD OVER 15.00 METRES
    • 9.06 G/T GOLD OVER 40.05 METRES
    • 5.07 G/T AU OVER 100.6 METRES
  • These are exceptional results and only the highlights of what could be a multiple page article on all the intercepts that makes this deposit a rare find!
  • On October 2nd Wallbridge announced the closing of a $63.8M bought deal financing at a pre-money valuation of over $800 million! Kirkland Lake Gold maintained their 9.9% ownership by contributing $23M to the financing. Kirkland’s continued participation and valuation speak to the Fenelon deposit as a potential world-class deposit, which is comparable to Fosterville.
  • Wallbridge is well on their way to completing their 100,000-meter drill program for 2020, and there are significant catalysts in store for 2021 (70M Budget):
    • 150,000 meters of drilling
    • Maiden resource estimate for Fenelon including the Gabbro, Tabasco, Cayenne, and Area 51 zones during the third quarter
    • Commencement of a 10,000 meter, multi-year development program to establish underground drilling platforms in Area 51 and Tabasco.
  • On November 23rd, Wallbridge announced a 75% earn-in for $35M in work expenditures on its Detour East Project with Kirkland Lake Gold. Another exciting development and continued collaboration with Kirkland Lake. 
  • Major investors include Kirkland Lake at 9.9% and Eric Sprott 20.7%. With the Fenlon Project being only 75km east of Kirkland’s Detour Mine, one can quickly see why this is of interest to both investors and a potential takeover target. 

> MORE in camp:  WM.t, PRB.v-Probe,  KL.t-Kirkland Lake, GTG.v-Great Thunder Gold, GSK.C-Goldseek, XND.v-Xander,

Conclusion:

  • It is clear with the area consolidation and continued success since our last update that the Fenelon Gold Camp is going to be very exciting for the remainder of 2020 and 2021. In a historically underexplored area we expect new discoveries to be made in 2021, which will increase the following on all players in the area. 
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> https://stockhouse.com/companies/bullboard?symbol=t.wm&postid=32037773

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xx

Stock: YE.’19 : 03.31: 05.31: % Ytd: 12.07: % Ytd : Yr.H.: off High:
GDXJ: 42.26 : 28.10 : 46.08 : 9.04%: 53.68 :  27.0%: 65.95: -18.6%
ELY.t :  $0.46 : $0.71 : $1.61 : 250.%:  $1.16: +152%: $2.09: -44.5%
WM.t :  $0.91 : $0.52 : $1.35 : 48.4%: $0.79 -13.2%: $1.35 -41.5%
Gcm.t:  $5.57 : $4.05 : $7.01 : 25.9%: $6.44 : 15.6%: $8.10: -20.5%
Cgc.t:   $1.40e $1.59 : $2.15 : 53.6%: $2.40 : 71.4%: $3.07: -21.8%
Gldx.t   $2.20 : $1.29 : $2.37 : 7.73%: $3.20 : 45.5%: $4.62: -30.7%
====
Emr.v:  $0.07 : $0.04 : $0.06: -14.3%: $.075 : 7.14%: $0.16: -53.1%
VG.v. :  $.155 : $.145 : $0.26: +67.7%: $.425: 174.%: $0.93: -54.3%
SMC.t. $0.05 : $.035 : $.045: -10.0%: $0.06 : 20.0%: $.095: -36.8%

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WM - Wallbridge drills 31.34 m of 9.26 g/t Au at Fenelon
[2021-01-13 07:40]
WALLBRIDGE'S INFILL WEDGE DRILLING RESULTS AVERAGE 9.26 G AU/T OVER 31.34 METRES IN TABASCO SHEAR ZONE

Wallbridge Mining Company Ltd. has released the remaining assay results from the five wedge cuts drilled around FA-19-086 that continue to delineate the high metal factor (grade multiplied by core length) domains in Tabasco-Cayenne shear zones. As expected, the results of the FA-19-086 wedge cuts confirm a wide shear zone with good geological continuity and highly variable gold grades. The average grade and width for the original hole and the five wedge cuts, which tested a 75 by 75 metre area surrounding the original hole at approximately 25-40 metre spacing, returned (see Figs. 1 and 2):

9.26 Au g/t (8.22 Au g/t cut) over 31.34 metres

. . .

2020-2021 Drilling Program Update

In 2020, Wallbridge completed approximately 102,000 metres of exploration and resource drilling at Fenelon, achieving its 2020 target despite the temporary suspension of activities in the spring due to the COVID pandemic. For the majority of the year, six drill rigs were running and a seventh drill was mobilized to the project at the end of November.

In 2021, the Company is planning to complete approximately 170,000-metres of drilling, with a maiden resource estimate at Fenelon anticipated in the third quarter (see Wallbridge Press Release dated January 11, 2021). Approximately 10-15% of the drilling program will be devoted to regional exploration on the Company's district-scale, underexplored land package on the Detour-Fenelon Gold Trend.

Currently, drilling is ramping up and by the end of January the Company will have nine drill rigs turning. Six drill rigs are targeting the Fenelon Gold System (Tabasco-Cayenne-Area 51 mineralization) to approximately 1,000 metre vertical depth, carrying out a combination of 75-100-metre step-outs and tighter-spaced (50-60-metre) in-fill drilling. An additional two drill rigs will be focusing on near surface, open pit resource drilling in the western portion of Area 51. One additional drill rig will be devoted to regional, grassroots exploration at various projects of the Company's Detour-Fenelon Gold Trend land package.

more...

About Wallbridge Mining

Wallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold property, which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern Quebec. The Company completed approximately 102,000 metres of drilling in 2020 and has begun a fully-funded 170,000-metre drill program and 10,000-metre, two-year underground development program in 2021. The Company intends to complete a maiden resource on the Fenelon Gold System in the third quarter of 2021.

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Stockhouse Bullboard calls it...

"Good News!!!" / Drilling Report from WM.t / Wallbridge

Wallbridge’s Infill Wedge Drilling Results Average 9.26 g Au/t over 31.34 metres in Tabasco Shear Zone Toronto Stock Exchange:WM (globenewswire.com)
  rate and reply
+  The operative word being "infill".  - DK
+  This is fantastic news.....let's take this over $1 and then some more....
==
> https://stockhouse.com/companies/bullboard?symbol=t.wm
BOXER Calcs:
9.26 g Au/t over 31.34 m = : at 1/13
xx

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Wallbridge Mining - Q1 2021 Update: "multi-million ounce potential"

Increased land package from 10 sq km > over 85 sq km w/ Balmoral, & much is under-explored
Maiden Resource estimate expected by Q3.2021.  $85 Million Cash in treasury, as of end 2020.
Enough to fund an aggressive drilling program

Looking to spin out Copper/ Nickel assets

From the CORE Shack: VIDEO: "we have six drills working now"

WM.t ... update / Last: $0.72...  started climbing again!  (it seems, tho' I want to see it over 0.82)

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==

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RESOURCE ESTIMATE will be a Key Step

February 07, 2021 - 02:12 PM

RE:RE:RE:RE:RE:RE:No Nova gold for me

cdnkeswick wrote: 80 million and it will all be spent this year. Maybe you need to wake up or at least tell me where next year's money will come from.

The RE should be out by September,  a offer on the fenlon property will be made shortly after.  My guess is Sibanye  Stillwater will buy this property but may get a fight from KL looking for 1.5 billion for just fenlon. Jmho

xx

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Wallbridge vs. Ely Gold Royalties (which holds its royalties) & others

WM.t vs. ELY.v ... update: 10d/ $0.675 +0.065, +10.7% / $0.92 +0.05, +5.8%= 73.4%

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Ratio: $0.675 / $0.92= 73.4%, yrL: 60.7% - yrH: 85.6%: mid: 73.2%

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