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Wallbridge Mining Company Limited (WM:TSX) is an established metals company working to build sustainable growth for investors through discovery and development of mineral resources.
Wallbridge specializes in platinum, palladium, copper and nickel projects in mining friendly jurisdictions of North America, with a particular focus on Sudbury, Ontario. Wallbridge's position in Sudbury offers unique large-scale discovery upside in Canada's premier mining district.
Wallbridge has a record of generating high potential projects and financing exploration through joint ventures or spin-out companies. Wallbridge has 48 exploration to pre-feasibility stage mineral projects. These include 12 joint ventures with partners Impala Platinum Holdings Limited, Lonmin Plc, Xstrata Nickel and a number of junior mining companies.
Wallbridge also holds significant equity interests in spin-out companies Duluth Metals Limited (DM:TSX) and Miocene Metals Limited (MII:TSV).
2012 Objectives
- Wallbridge will complete pre-feasibility and feasibility studies on the open pit Broken Hammer project with permitting and a production decision expected in 2012.
- Wallbridge has budgeted for over 15,000 metres of drilling in the Sudbury area in 2012.
- Drilling will be completed to follow-up high grade results at the Milnet 1500 zone beneath the Milnet Mine on the Parkin Offset Joint Venture with Impala.
- Drilling and exploration is underway on the Sudbury Camp Joint Venture with Lonmin.
- Wallbridge is evaluating opportunities to fund exploration on a number of other projects, including those with the 46.5 kms of recently discovered offset dyke on the North Range.
- Wallbridge will complete ground geophysics on the Booth River project in Nunavut and is evaluating opportunities to fund drilling.
- Wallbridge will continue to review new projects and opportunities to leverage its current assets for growth.
2011 Highlights
- Wallbridge completed a 30,000 tonne open-pit bulk sample at the Broken Hammer Project with net proceeds of about $2.6M or $86 per tonne.
- Intersected 8.0 metres grading 4.32 g/t TPM, 4.11 % nickel, and 0.60 % copper at the Milnet 1500 zone discovery beneath Milnet Mine on the Parkin Offset Joint Venture with Impala.
- Wallbridge re-negotiated the Parkin Offset JV terms, increasing Impalas option period earn-in to $6.2M.
- Wallbridge secured additional $1.0M from Lonmin for 2012 exploration on the Sudbury Camp Joint Venture.
- Wallbridge successfully mapped the Hess Offset dyke extension over 29 kilometers into a previously unexplored area, representing unique discovery upside in Canada's premier mining district.
- Wallbridge successfully completed the Miocene Metals Limited spinout and TSX.V listing in August 2011 IPO.
- Wallbridge acquired the Booth River nickel, copper, PGE project in Nunavut which has large-scale discovery upside.
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| TSX: |
WM |
| Last: |
$0.15 |
| Volume: |
42000 |
| Change: |
even |
| FSE: |
WC7 |
| Last: |
€0.12 |
| Volume: |
800 |
| Change: |
-0.04 |
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