Announced
Completed
Financials
Tags
Majority
Canada
Acquisition
Single Bidder
General Mining
Public
gold exploration
Completed
Friendly
Synopsis
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.
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