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Last C$0.24 CAD
Change Today -0.01 / -4.08%
Volume 54.4K
WML On Other Exchanges
As of 3:56 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

wealth minerals ltd (WML) Snapshot

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06/10/15 - C$0.42
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11/4/14 - C$0.03
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wealth minerals ltd (WML) Details

Wealth Minerals Ltd., a junior mineral resource exploration company, primarily engages in the acquisition, exploration, evaluation, and development of mineral properties in Mexico. It primarily explores for precious metals. The company was founded in 1994 and is headquartered in Vancouver, Canada.

Founded in 1994

wealth minerals ltd (WML) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

wealth minerals ltd (WML) Key Developments

Wealth Minerals Ltd. Auditor Raises 'Going Concern' Doubt

Wealth Minerals Ltd. filed its Annual on Mar 30, 2015 for the period ending Nov 30, 2014. In this report its auditor, Smythe Ratcliffe, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Wealth Minerals Ltd. Enters into Option Agreement with Balmoral Resources Ltd. to Acquir 75% Interest in the N1/N2 Gold Project, Quebec

Wealth Minerals Ltd. announced that it has entered into an option agreement with Balmoral Resources Ltd. to acquire up to a 75% interest in the N1/N2 Gold Project, Quebec. The company plans to complete a 1,500 metre confirmatory drill program on the project in 2015. The N1/N2 Gold Project consists of 2 blocks of claims - a larger eastern block (N2) totaling 3,600 hectares and a smaller western block (N1) totaling 336 hectares, both road accessible and located approximately 25 kilometres south of Matagami, Quebec. The contiguous N2 block is further split into a northern section, the Northway Property and a southern section, the Noyon Property. The property is located approximately 25 kilometers south of the mining center of Matagami, Quebec, approximately 4.0 kilometers south of a major regional highway and is accessible by all-season roads. The western zones at N2 (A and RJ) are within the potential capture radius of the head frame on Vezza and the nearby Sleeping Giant mill complex. Pursuant to the January 30, 2015 agreement between Balmoral and Wealth (Option Agreement), Wealth has the option (the 'First Option') to earn an initial 51% interest in the property by incurring aggregate exploration expenditures of $2.2 million (of which the initial $400,000 is a firm commitment), and issuing an aggregate of 3 million Wealth common shares over three years. On exercise of the First Option, Wealth can elect to proceed with a further option (Second Option) to earn an additional 24% interest (total 75%). In order to exercise the Second Option, Wealth must incur additional exploration expenditures of $2.8 million and make cash payments to Balmoral of up to $600,000, both over three years. The payments can be made in either cash or shares at Wealth’s option. N2 is subject to existing net smelter returns royalties payable to various third parties. During the First Option, the initial $400,000 is a firm commitment and $1.2 million of the $2.2 million total expenditure in years 1, 2 and 3 must be expended on drilling as follows: $200,000 in Year 1, $400,000 in Year 2 and $700,000 in Year 3. During the Second Option, total expenditure of $2.8 million in years 4, 5 and 6 (or earlier) is subject to minimums of $500,000 per annum.

Wealth Minerals Ltd., Annual General Meeting, Sep 30, 2014

Wealth Minerals Ltd., Annual General Meeting, Sep 30, 2014.


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