Shares of Wallbridge Mining Co Ltd. (TSX: WM), a company engaged in the acquisition, exploration and discovery of polymetallic mineral deposits, recorded a more than 11% gain during each of the past two consecutive trading sessions with a significant number of shares exchanging hands. During the last trading session WM gained 11.1% and closed at C$0.05, while recording significant trading volumes of 3.0 million shares. In the light of Duluth Metals and Antofagasta PLC’s acquisition, WM recently announced that it would vote all of its Duluth shares in favour of the acquisition. Under the terms, WM has also agreed to sell half (i.e. 5.1 million) of its 10.2 million Duluth shareholdings to Antofagasta at a price of C$0.45 per share for total gross proceeds of C$2.2 million. During the past 5-trading sessions, WM gained 11.1% with daily average trading volumes of 766,742 shares, while the stock attained a price as it was a month ago and hence accumulated no gain with past one month daily average trading volumes of 189,059 shares.
Company Description:
Wallbridge Mining Company Limited (TSX: WM) acquires and explores mineral properties. The company currently holds interests in properties located in Ontario, Canada, and in Minnesota in the United States. Wallbridge is exploring for nickel, copper and platinum group elements.
1-Year Stock Chart:
Source: Bloomberg
