Canadian miner secures $43M for gold project

Photo: Wallbridge Mining

Canadian miner secures $43M for gold project Canadian miner Wallbridge Mining has secured some C$63.8 million (US$43 million) to develop its Fenelon gold mine in Quebec, Canada, through a public offering. The business issued a total of 55.5 million common shares, Wallbridge Mining said in a statement.


"In connection with the Offering, Kirkland Lake Gold Ltd . acquired 20,000,000 Common Shares to increase its ownership interest in the Company to approximately 9.9% (on a non-diluted basis) in accordance with the non-dilution rights granted to Kirkland Lake by the Company pur-suant to a participation agreement between the Company and Kirkland Lake dated December 6, 2019," the Canadian miner said in a statement.


Wallbridge Mining says it is focused on advancing the exploration and development of the Fenelon project with an ongoing 100,000-metre ex-ploration drill program in 2020, according to the statement.