Wallbridge Mining reports positive results for Fenelon gold project in Quebec
From GlobeNewswire: 2025-03-27 06:00:00
Wallbridge Mining Company Limited is set to hold a webinar on Friday, March 28, at 10:00 AM EDT. The company released positive results from a Preliminary Economic Assessment on its Fenelon gold project in Quebec. Highlights include an average annual gold production of 107,000 oz over a 16-year mine life and an after-tax Net Present Value of $706 million. Initial capital expenditures are estimated at $579 million with sustaining capital expenditures of $449 million. The project is expected to generate an after-tax NPV of $706 million and an after-tax IRR of 21% at a base case gold price of US$2,200/oz. Sensitivity analysis shows that at a gold price of US$3,000/oz, the after-tax NPV would be $1,381 million with an IRR of 34%. The project features 16.6 Mt of mineralized material at an average grade of 3.34 g/t. The company cautions that the PEA results are preliminary and include inferred mineral resources. Wallbridge’s CEO, Brian Penny, expressed optimism about the project, emphasizing its economic viability and potential for development. The company plans to rapidly advance the project in the current high gold price environment. The PEA was designed to be rigorous, using current cost data to arrive at realistic projections. Wallbridge has a bright future and is committed to increasing value for its shareholders. The webinar will provide an opportunity to discuss the project’s potential and design options. The company is focused on exploration and development of gold projects while respecting the environment and local communities. Wallbridge has a contiguous mineral property position totaling 830 km2 along the Detour-Fenelon gold trend in Quebec. The company engages in consultation activities with Cree communities and other stakeholders to ensure positive relationships and collaboration. Wallbridge’s hiring policy prioritizes First Nations and local community members when possible, aiming to create employment opportunities in the region. The PEA was prepared by independent consulting firms, with each firm responsible for specific areas of the assessment. The company cautions that FLI may involve risks, uncertainties, and factors that could impact actual results. Non-IFRS financial measures have been included in the news release, such as total cash costs, all-in sustaining costs, and free cash flow, to provide additional information to stakeholders. Wallbridge’s disclosure is based on NI 43-101 standards, which may differ from SEC requirements for US companies. Terms relating to mineral properties, mineralization, and estimates of reserves and resources are defined under NI 43-101 guidelines. Figures and additional information are available on the company’s website.
Read more at GlobeNewswire: Wallbridge Mining Completes Updated Positive Preliminary