Posted in | Copper | Nickel | Platinum

Wallbridge Mining Announces Deal with Lonmin‎

Wallbridge Mining Company Limited has signed an agreement with Lonmin Plc in which Lonmin will buy 13.2 million units of Wallbridge for $2.5 million. Each unit of the Canadian company will cost Lonmin CAD $0.19 and comprise of one common share of Wallbridge and a half common share purchase warrant.

Alar Soever, the Chief Executive Officer of Wallbridge Mining said that this recent investment shows Lonmin's continued confidence and support for their exploration work in Sudbury. The Sudbury Basin is the most attractive target area in the world for the discovery of high grade copper, nickel and platinum deposits he added.

Albert Jamieson, the CCO of Lonmin said that they had been exploring for PGMs with their Joint Venture partners in the Sudbury Basin for nearly 10 years and were now beginning to see the fruits of that hard work. He added that they looked forward to progressing the projects in the coming year. Wallbridge's position in Sudbury offers unique large-scale discovery upside in Canada's premier mining district.

Marz Kord, President of Wallbridge said that the long term relationship with Lonmin since January 2002 demonstrates that Lonmin continues to be not only a great Joint Venture partner, but also a supportive shareholder of Wallbridge in their exploration work in Sudbury.

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Scanlon, Joel. (2019, March 19). Wallbridge Mining Announces Deal with Lonmin‎. AZoMining. Retrieved on August 11, 2020 from https://www.azomining.com/News.aspx?newsID=5777.

  • MLA

    Scanlon, Joel. "Wallbridge Mining Announces Deal with Lonmin‎". AZoMining. 11 August 2020. <https://www.azomining.com/News.aspx?newsID=5777>.

  • Chicago

    Scanlon, Joel. "Wallbridge Mining Announces Deal with Lonmin‎". AZoMining. https://www.azomining.com/News.aspx?newsID=5777. (accessed August 11, 2020).

  • Harvard

    Scanlon, Joel. 2019. Wallbridge Mining Announces Deal with Lonmin‎. AZoMining, viewed 11 August 2020, https://www.azomining.com/News.aspx?newsID=5777.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit