Wallbridge Mining Secures $4.7 Million in Tax Credits
Wallbridge Mining Gains Significant Financial Boost
TORONTO — Wallbridge Mining Company Limited (TSX: WM, OTCQB: WLBMF) is thrilled to announce a notable financial achievement, securing $4.7 million in cash refunds through its Quebec Tax Credit Relating to Resources. This credit is a part of Wallbridge’s ongoing strategy to optimize its financial resources and support its ambitious exploration endeavors.
The Importance of Tax Credits in Mineral Exploration
The province of Quebec actively promotes mineral exploration, targeting investments that can yield economic benefits. Wallbridge’s recent tax credit is specifically designed to reimburse a portion of qualifying exploration expenses, not funded by Quebec Flow Through shares. This incentive is a significant aspect encouraging companies like Wallbridge to invest in the province’s geological potential.
Investment Focus for Future Projects
With the influx of $4.7 million in tax credits, Wallbridge plans to channel these funds into advancing exploration and development on several mineral properties, particularly at their Martiniere and Fenelon sites. These properties are pivotal to Wallbridge’s portfolio and demonstrate the company’s commitment to uncovering valuable mineral deposits.
About Wallbridge Mining Company Limited
Wallbridge is dedicated to creating sustainable value through the exploration and development of gold projects located in Quebec’s rich Abitibi region. The company boasts a substantial contiguous mineral property position totaling 598 square kilometers, stretching approximately 82 kilometers along the Detour-Fenelon gold trend. This extensive land position includes the company's flagship Fenelon Gold Project at the preliminary economic assessment stage and the Martiniere Gold Project, still in its early exploration stages, along with various greenfield gold projects.
Future Exploration and Strategic Vision
As Wallbridge Mining continues its exploration efforts, the focus will remain on tapping into the promising potential of its mineral properties. By leveraging the funds from the refundable tax credits, Wallbridge is well-positioned to ramp up exploration activities and potentially unearth valuable resources.
Company Leadership and Contact Information
The leadership team at Wallbridge is committed to transparency and accessibility. CEO Brian Penny is available for queries and can be reached via email at bpenny@wallbridgemining.com. Investors may also contact Tania Barreto, the Director of Investor Relations, at tbarreto@wallbridgemining.com, for further insights into the company’s projects and strategies.
Frequently Asked Questions
What recent financial achievement did Wallbridge Mining announce?
Wallbridge Mining Company Limited announced it secured $4.7 million in refundable investment tax credits for its exploration efforts in Quebec.
How does the Quebec government support mining companies?
The Quebec government provides financial incentives, including tax credits, to assist mining companies with eligible exploration expenses.
What projects will benefit from the new funding?
The funding will be utilized to enhance exploration and development at Wallbridge's properties, particularly Martiniere and Fenelon.
What is the focus area of Wallbridge's operations?
Wallbridge focuses on gold projects in Quebec’s Abitibi region, emphasizing sustainable development and community respect.
Who can investors contact for more information about Wallbridge?
Investors can contact CEO Brian Penny or Director of Investor Relations Tania Barreto via their respective emails for more information.
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