CAPITAL MARKETS

Eric Sprott loads up on Balmoral before Wallbridge tie-up

Upon closing, Sprott will hold 20% of Wallbridge newco

Staff Reporter

This article is 4 years old. Images might not display.

Sprott now controls 13.9% undiluted and 15.3% diluted of Balmoral, which is merging with Wallbridge Mining Company where he is also the main shareholder.

Last week's special meeting of Balmoral shareholders voted in favour of the C$110 million merger. Sprott will own 20% of the combined company.

Balmoral has extensive gold and nickel exploration ground on Quebec's Detour Gold Trend, around Wallbridge's developing Fenelon gold mine.

 

Balmoral shares (BAR:TSX) have gained 73% in the past 30 trading days to C69c, which capitalises it at $132 million (US$95 million).

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.