Gold mid-tiers’ Q3 2024 fundamentals
All-time-high gold prices combined with relatively-contained costs catapulted unit earnings to another epic record.
Wallbridge Mining Company (TSX: WM) has announced that in response to the latest covid-19 plans from the provincial governments, exploration activities at the Fenelon gold project in Québec as well as operations in Ontario will remain suspended until at least May 4.
Originally, these operations were expected to be suspended until April 15.
Limited care and maintenance operations aimed at protecting the facilities and environment will continue, the company said. Drill contractors remain prepared to continue drilling with six surface drill rigs as soon as site activities can be resumed.
Wallbridge has also withdrawn its full-year 2020 exploration drilling guidance of 100,000 to 120,000 metres to assess the impact of the virus. To date, the company has had no suspected or confirmed cases of covid-19, and has placed protocols in place to protect its workforce.
Wallbridge will continue to maintain and advance its projects with staff working from home on permitting, engineering studies, geologic interpretation and modelling, and exploration targeting.
The company said it expects to receive all results from the approximately 26,000 metres of drilling completed so far this year within the next 4-6 weeks.
