Wallbridge Mining Company
Primary ticker: TSX:WM, OTCQB: WLBMF
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Fenelon Gold Project
Project location: Canada
Website: wallbridgemining.com
Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend while respecting the environment and communities where it operates.
Wallbridge’s flagship project, Fenelon Gold, is located on the highly prospective Detour-Fenelon Gold Trend Property in Quebec’s Northern Abitibi region. A mineral resource estimate completed in 2023 validated the multi-million-ounce potential of the 100%-owned Fenelon and Martiniere properties, incorporating a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere, located within an approximate 830 km2 exploration land package controlled by Wallbridge. The Company believes that these two deposits have good potential for economic development, especially given their proximity to existing hydro-electric power and transportation infrastructure. In addition, Wallbridge believes that the extensive land package is extremely prospective for the discovery of additional gold deposits.
Wallbridge has reported a positive Preliminary Economic Assessment on its 100%-owned Fenelon gold project with an estimated average annual gold production of 212,000 ounces over 12 years (see Wallbridge press release of June 26, 2023).
Cash: CAD 25.3M
Major shareholders:
Agnico Eagle- 9.9%
Eric Sprott- 16.3%
William Day Construction – 5.7%
Management & Insiders- 0.5%
Retail and Other- 67.6%
Management Ownership – 0.5%
Financials
Management Profile
Brian Penny, Chief Executive Officer
Mr. Penny is an experienced mining Industry executive, with over 30 years’ experience in leadership roles in finance. Prior to joining Wallbridge as CFO in 2018, Mr. Penny held a number of senior positions, including Executive Vice President and CFO of New Gold Inc. and Vice President of Finance and CFO of Kinross Gold Corporation. He played a leading role in the performance of the companies he represented, maintaining capital allocation discipline, and delivering shareholder returns, while strengthening the balance sheet. Mr. Penny also brings broad board experience, having served as non-executive director of Equinox Minerals Limited (2004 to 2011), Alamos Gold Inc. (2005 to 2008); and Baffinland Iron Mines Limited (2004 to 2008). Most recently, Mr. Penny served as a Director of Maverix Metals Inc. (2019 to 2023). Mr. Penny is a CPA, CMA with a strong background in M&A spanning geographies, commodities, and stages of company and project development within the natural resource sector.
What is your rationale for taking part in 121 Mining Investment?
To meet new investors interested in gold development projects in Canada.
What do you think makes your company such a compelling investment?
Fenelon Gold – A hub to unlock shareholder value, with an after-tax NPV of $721M. (2023 PEA)
What are the top 3 key investor takeaways?
Strong technical team, Experience Board of Directors, Gold project in a premier location – Quebec, Canada.