Wishbone Gold Plc is an AIM listed company operating in the precious metals market through two strategies. It has a wholly owned precious metals trading business centred in Dubai, United Arab Emirates. The Company also holds four exploration licences in North East Queensland, Australia, in an area covering over 34,000 acres known for significant precious metal mineralisation.
We believe this dual exposure to the gold market, from exploration to trading, provides a unique investment proposition in the small cap arena.
The Board has a wealth of experience in numerous sectors including technology, healthcare and retail, in addition to natural resource companies, where they have successfully executed strategies for growth by acquisition.
For an acquirer of gold assets such as Wishbone Gold, the current gold price represents an attractive entry point as the Board look to add to the Company’s asset base.
Wishbone Gold has commenced this process through the acquisition of four highly prospective gold licences in Queensland, Australia and continues to assess the prospectively of a pipeline of opportunities.
The Company’s three Wishbone licenses are located in the highly prospective Mingela area which lies within the eastern outcrops of igneous and metamorphic rocks of the Ravenswood-Lolworth Province.
Wishbone II, III and IV
The Ravenswood Granodiorite Complex outcrops throughout the area and is bounded by a large shear zone structure along which much of the gold mineralisation in the region is located.
The Granite Castle deposit on the western boundary of White Mountain has recently been drilled by others to confirm significant gold and silver in grades and tonnage of potential economic significance.
The Board of Wishbone Gold believes gold and precious metals markets provide an attractive investment opportunity, and one that provides sustainable growth and an excellent exposure to precious metals markets for shareholders. The Board believes that the gold price will continue to strengthen in the medium to long tern, leveraged by increasing global demand, in particular from China and India, and from the role of precious metals as a hedge against inflation during a prolonged period of economic upheaval.
In 2016, the Company has added to the potential of its exploration potential by the acquisition of the UAE based gold trading business Precious Minerals International and its subsidiary Black Sand FZE -
PMI brings existing supply agreements with Colombia and Honduras, and a strong pipeline of further deals.
The Board is acquisitive and is continually reviewing and evaluating precious metals projects globally.