Alar Soever, Executive Chairman Wallbridge Mining, “Copper, Nickel & Platinum Miners in the Sudbury Basin” at the World Resource Investment Conference 2012
Wallbridge Mining Company Limited (WM:TSX) is an established metals company working to build sustainable growth for investors through discovery and development of mineral resources. Wallbridge specializes in platinum, palladium, copper and nickel projects in mining friendly jurisdictions of North America, with a particular focus on Sudbury, Ontario. SNNLive spoke with Alar Soever, Executive Chairman of Wallbridge Mining Company at the Cambridge House World Resource Investment Conference 2012 in Vancouver, BC.
In this interview, Mr. Soever discusses the company’s projects in the Sudbury Basin, what they are working on, and how they have set themselves up for the rest of 2012. Mr. Soever begins by stating, ”Wallbridge is a long established exploration company in Sudbury, Ontario. Sudbury, as most people know, is one of the world’s great nickel mining camps, but what a lot of people don’t know is that there’s a lot of copper to be found in Sudbury, and that’s what people have been looking for lately. So, its very exciting, we went public in 2000 so about 12 years. During the course of that time, we have spun out some of our non-core Sudbury assets into two companies: one is Duluth Metals, DM on the TSX, which we own 10 million shares of, and in today’s market and the share prices the value of those 10 million shares make up our entire market cap. Something to be proud of is that we have real assets which justify the value…that being said, we have very exciting things happening in Sudbury.”
With regard to their Broken Hammer zone, he states, ”The size of our Broken Hammer zone, which is located in Sudbury, is about a quarter million tons, but 1% copper and almost 4 grams of PGEs. We just last year took a 30,000 ton bulk sample out of that and that bulk sample generated $3 million of net revenue for us…its kind of handy money to have given the state of the markets”, and at the moment, the company is, “working on the pre-feasibility study and its going well. We hope to have a production decision by the fall, and be in production some time next year after getting the permitting and everything.”
“We can’t predict the future, but we have set up Wallbridge with a number of joint ventures. We have joint ventures with Impala Platinum, the world’s second largest platinum producer, and also Lawnman, the world’s third largest platinum producer. And they provide about $2.5 million worth of exploration funds for Sudbury every year. In times like this, we can reduce the spending on our properties and focus on the joint venture properties and still keep the exploration going at a very good pace. Duluth is going through a very large feasibility study with their joint venture partner, Antofagasta, who is putting $130 million into them, so they don’t really need a source of money at this point either. As a company, we’re pretty well set up to weather these economic downturns that happen from time to time”, he concludes. For more information about Wallbridge Mining, check out their website. SNNLive welcomes Alar Roever, Executive Chairman of Wallbridge Mining Company Ltd.
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