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Wallbridge closes C$7.9M placement for Quebec gold project

Ontario-based Wallbridge Mining Co. Ltd. closed a C$7.9 million private placement to advance the Fenelon gold property in Quebec and pursue other advanced-stage projects.

The company issued 2,590,700 shares on a super flow-through basis at C$1.05 apiece and 5,409,000 national shares on a flow-through basis at 95 Canadian cents apiece for 7,999,700 issued shares in total, it said Dec. 19.

In October, Wallbridge agreed to acquire a 20% stake in Sibanye Gold Ltd. unit Lonmin Canada Inc. and became the operator of the advanced-stage platinum group metals property in Ontario.