Wallbridge Mining (TSX: WM) has released an updated preliminary economic assessment for their flagship Fenelon Gold project.
The prior update, issued in June 2023, was based on a gold price of $1,750. This latest update bumps that figure up to $2,200, with part of the reason for the revised study being the rising price of gold.
Funnily enough.. That revised study was conducted at a price nearly $1,000 below the current spot price of the metal.
But a higher price of gold hasn’t exactly saved the economics of the project here.
Lets dive in.
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