Wallbridge Mining completed the acquisition of Balmoral Resources for $82m.

Wallbridge Mining, which is engaged in discovery, development and production of gold, copper, nickel and platinum group metal mineral deposits, completed the acquisition of Balmoral Resources, a Canadian-focused exploration company actively exploring a portfolio of gold and base metal properties located within the prolific Abitibi greenstone belt, for $82m. The existing Wallbridge and former Balmoral shareholders now own c. 82% and 18% of the issued and outstanding Wallbridge shares. “The properties acquired from Balmoral dramatically increase our footprint in Quebec to 739 km2 of underexplored and highly-prospective ground that is clearly complementary to our rapidly expanding Fenelon gold project. As announced earlier this week, our exploration team has begun evaluating the newly-acquired properties, and drilling to identify extensions of the Fenelon gold system is planned to begin this summer,” Marz Kord, Wallbridge President & CEO.