Northern Ontario Business: Wallbridge Mining ‘Creative in Downturn’

Northern Ontario Business recently published a piece on Wallbridge Mining (TSX:WM) regarding the company’s strategies in the current bear market. Wallbridge CEO Marz Kord told the publication that the company’s strategy has been to explore while minimizing dilution to shareholders.

As quoted in the publication:

The company does this in three ways, Kord said: by creating spinout companies, by forming joint venture partnerships, and through asset realization.

To date, Wallbridge has created two spinout companies. In 2005, it created Duluth Metals to explore projects in Minnesota. That company was sold to Antofagasta earlier this year at $0.45 per share, a substantial premium to the $0.07 per share it was trading at prior to the takeover announcement. Kord said that the deal earned shareholders approximately $10 million from an initial investment of $500,000.

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