Wallbridge Mining Company Limited (TSX: WM, OTCQX:
WLBMF) (
“Wallbridge” or the
“Company”) today announced that Marz Kord is
retiring from his role as President and Chief Executive Officer
(“
CEO”) and director, effective
immediately. Mr. Kord will remain employed until December 31,
2023 to support the management team through the management
transition. In addition, Parviz Farsangi has decided to retire from
the Board of Directors (the “
Board”). Both Mr.
Kord and Mr. Farsangi will continue as Advisors to the Company and
the Board.
Brian Penny, the Company’s Chief Financial
Officer (“CFO”), will assume the role of interim
CEO and joins the Board as a director. Mary Montgomery will assume
the role of interim CFO. Both appointments are effective
immediately.
Mr. Penny has over 30 years of mining industry
experience in financial management, strategic planning, and
financial reporting. Prior to joining the Company as CFO in 2018,
Mr. Penny held senior positions such as Executive Vice President
and CFO of New Gold Inc. and Vice President of Finance and CFO of
Kinross Gold Corporation. Most recently, Mr. Penny served as a
director of Maverix Metals Inc. (2019 to 2023). In addition, he has
also served as a member of the Board of Equinox Minerals Limited
(2004 to 2011), Alamos Gold Inc. (2005 to 2008); and Baffinland
Iron Mines Limited (2004 to 2008). Mr. Penny obtained his Diploma
in Business-Accounting and Finance from Cambrian College and is a
CPA, CMA.
Anthony Makuch, Chair of the Board, stated, “On
behalf of the Board, I would like to thank both Marz and Parviz for
their hard work and long-standing service to Wallbridge. Both
individuals have been involved in the advancement of the Company’s
flagship Fenelon Gold (“Fenelon”) project, and
their industry experience was instrumental in the completion of the
Fenelon Preliminary Economic Assessment (“PEA”) in
June 2023. Marz spearheaded the development and mining of the
Sudbury Ni/Cu/PGE Broken Hammer project. His business acumen led
the Company to the Fenelon gold project and subsequent acquisition
of Balmoral Resources which significantly expanded Wallbridge’s
land holdings from 10.5 km2 to 830 km2 along the Detour Gold Trend
within the prolific Abitibi Greenstone Belt. We wish them both well
in their future endeavours.”
“With over 30 years of varied experience in the
mining industry, we believe that Brian will provide a seamless
transition and is the ideal candidate to assume the interim CEO
role. We have been working with Brian as the CFO since 2018, and
the Board and I are very confident that Brian will successfully
lead the Company as we continue to explore our very large and
highly-prospective land position in northwestern Quebec and advance
Fenelon,” added Mr. Makuch.
Brian Penny stated, “I am excited to take on the
role as interim CEO at Wallbridge. I am proud of the Wallbridge
team, the relationships that have been established with our local
First Nations communities and the work that has been accomplished
to date. In addition to our two gold deposits at Fenelon and
Martiniere, we control over 90 kilometers of strike length along
the Detour-Fenelon gold trend in Quebec and look forward to
advancing our projects in this world class mining
jurisdiction.”
About Wallbridge Mining
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
(“Fenelon”), is located on the highly prospective
Detour-Fenelon Gold Trend Property in Québec’s Northern Abitibi
region. An updated mineral resource estimate completed in January
2023 yielded significantly improved grades and additional ounces at
the 100%-owned Fenelon and Martiniere projects, incorporating a
combined 3.05 million ounces of indicated gold resources and 2.35
million ounces of inferred gold resources. Fenelon and Martiniere
are located within an 830 km2 exploration land package
controlled by Wallbridge. 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 (“PEA”) on its 100%-owned
Fenelon gold Project with an estimated average annual gold
production of 212,000 ounces over 12.3 years (see Wallbridge press
release of June 26, 2023).
Wallbridge also holds a 19.9% interest in the
common shares of Archer Exploration Corp.
(“Archer”) as a result of the sale of the
Company’s portfolio of nickel assets in Ontario and Québec in
November of 2022.
Wallbridge will continue to focus on its core
Detour-Fenelon Gold Trend Property while enabling shareholders to
participate in the potential economic upside in Archer.
For further information please visit the Company’s website at
https://wallbridgemining.com/ or contact:
Wallbridge Mining Company
Limited
Brian Penny, CPA, CMAInterim CEOTel: (705)
682‒9297 ext. 251Email: bpenny@wallbridgemining.com
Victoria Vargas, B.Sc. (Hon.) Economics,
MBACapital Markets AdvisorEmail: vvargas@wallbridgemining.com
Cautionary Note Regarding Forward-Looking
Information
The information in this document may contain
forward-looking statements or information (collectively,
“FLI”) within the meaning of applicable Canadian
securities legislation. FLI is based on expectations, estimates,
projections and interpretations as at the date of this
document.
All statements, other than statements of
historical fact, included herein are FLI that involve various
risks, assumptions, estimates and uncertainties. Generally, FLI can
be identified by the use of statements that include, but are not
limited to, words such as “seeks”, “believes”, “anticipates”,
“plans”, “continues”, “budget”, “scheduled”, “estimates”,
“expects”, “forecasts”, “intends”, “projects”, “predicts”,
“proposes”, "potential", “targets” and variations of such words and
phrases, or by statements that certain actions, events or results
“may”, “will”, “could”, “would”, “should” or “might”, “be taken”,
“occur” or “be achieved.”
FLI in this document may include, but is not
limited to: statements regarding the leadership changes; the future
prospects of Wallbridge; statements regarding the results of the
Fenelon preliminary economic assessment; the potential future
performance of Archer common shares; future drill results; the
Company’s ability to convert inferred resources into measured and
indicated resources; parameters and methods used to estimate the
MREs at the Fenelon Gold (defined below) and Martiniere (defined
below) properties (collectively the
“Deposits”); the prospects, if
any, of the Deposits; future drilling at the Deposits; and the
significance of historic exploration activities and results.
FLI is designed to help you understand
management’s current views of its near- and longer-term prospects,
and it may not be appropriate for other purposes. FLI by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance, or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such FLI. Although the FLI
contained in this document is based upon what management believes,
or believed at the time, to be reasonable assumptions, the Company
cannot assure shareholders and prospective purchasers of securities
of the Company that actual results will be consistent with such
FLI, as there may be other factors that cause results not to be as
anticipated, estimated or intended, and neither the Company nor any
other person assumes responsibility for the accuracy and
completeness of any such FLI. Except as required by law, the
Company does not undertake, and assumes no obligation, to update or
revise any such FLI contained in this document to reflect new
events or circumstances. Unless otherwise noted, this document has
been prepared based on information available as of the date of this
document. Accordingly, you should not place undue reliance on the
FLI, or information contained herein.
Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in FLI.
Assumptions upon which FLI is based, without
limitation, include: the results of exploration activities, the
Company’s financial position and general economic conditions; the
ability of exploration activities to accurately predict
mineralization; the accuracy of geological modelling; the ability
of the Company to complete further exploration activities; the
legitimacy of title and property interests in the Deposits; the
accuracy of key assumptions, parameters or methods used to estimate
the MREs and in the PEA; the ability of the Company to obtain
required approvals; geological, mining and exploration technical
problems; and failure of equipment or processes to operate as
anticipated. Risks and uncertainties about Wallbridge's business
are discussed in the disclosure materials filed with the securities
regulatory authorities in Canada, which are available at
www.sedarplus.ca.
Cautionary Notes to United States Investors
Wallbridge prepares its disclosure in accordance
with NI 43-101 which differs from the requirements of the U.S.
Securities and Exchange Commission (the "SEC").
Terms relating to mineral properties, mineralization and estimates
of mineral reserves and mineral resources and economic studies used
herein are defined in accordance with NI 43-101 under the
guidelines set out in CIM Definition Standards on Mineral Resources
and Mineral Reserves, adopted by the Canadian Institute of Mining,
Metallurgy and Petroleum Council on May 19, 2014, as amended. NI
43-101 differs significantly from the disclosure requirements of
the SEC generally applicable to US companies. As such, the
information presented herein concerning mineral properties,
mineralization and estimates of mineral reserves and mineral
resources may not be comparable to similar information made public
by U.S. companies subject to the reporting and disclosure
requirements under the U.S. federal securities laws and the rules
and regulations thereunder.
Wallbridge Mining (TSX:WM)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Wallbridge Mining (TSX:WM)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024