January 14, 2010 14:38 ET

eResearch Issues Initiating Report on Wallbridge Mining Company Limited

TORONTO, ONTARIO--(Marketwire - Jan. 14, 2010) - Wallbridge Mining Company Limited (TSX:WM) is a Canadian-based mineral exploration company focused on locating, exploring, and developing deposits of: (a) base metals (nickel, copper and cobalt); and (b) precious metals (platinum, palladium and gold). The Company's principal properties are in the under-explored footwall rocks of the Sudbury Basin, near Sudbury, Ontario.

Wallbridge has diversified geographically by securing and exploring a large porphyry copper-gold-molybdenum property located at Rogers Creek in southwestern British Columbia, and also acquired five additional porphyry properties nearby.

The Company owns 10 million shares (12.3%) of Duluth Metals Limited (TSX:DM), which is currently worth $0.19 per Wallbridge share. Duluth Metals has defined a significant copper-nickel-PGE resource in the Duluth Complex base metal camp in Minnesota, USA.

Currently selling at $0.24 per share, we have a 12-month Target Price of $0.65. We recommend Wallbridge as a Speculative Buy for risk-tolerant investors.

This Press Release was prepared by eResearch and was not vetted by Wallbridge Mining. Further, the Recommendation and Target Prices contained in this Press Release and in the Initiating Report are strictly those of eResearch and, due to securities laws, are not endorsed by Wallbridge Mining.

eResearch is a primary source for professional investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network.

Wallbridge Mining Company Limited paid eResearch a fee to conduct research on the Company, on an Annual Continuous Coverage basis.

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Contact Information

  • eResearch
    Bob Weir, CFA
    Managing Director, Research Services
    (416) 643-7650 Ext 1