WISHBONE GOLD PLC (LON:WSBN)Mining
Wishbone Gold Plc is a precious metal exploration and trading company listed on the London Stock Exchange and is a part of the Alternative Investment Market (AIM), and the Aquis Stock Exchange (AQSE). The company currently operates in UK, Honduras, Gibraltar, Mali, Nigeria, Australia, Uganda, Tanzania, and UAE. In Dubai, the company wholly owns a precious metal trading business and in North East Queensland, Australia the company has four large scale exploration licences covering more than 34,000 acres of land for mineralisation.
Wishbone gold’s strategy is to invest and develop artisanal and small-scale miners by providing them with equipment and expertise with a motive to increase the gold trading margin and volumes. The board has made successful strategic acquisitions in numerous sectors, including technology, health care, retail, and natural resource companies, and it also believes that exposure to gold market, from exploration to trading to processing can provide a unique investment proposition.
The Wishbone Gold operates through its two subsidiaries: Black Sand FZE, which is a gold trading company located in Dubai, and Wishbone Gold Pty Ltd, which is an Australia-based gold exploration and mining company. The Black Sand FZE is UAE-based, wholly owned subsidiary of Wishbone Gold Plc. It is engaged in precious metals and gems trading and offers a secure supply chain from mine to trade. It currently operates in Asia, Africa, and Europe. It also invests directly in small scale mines and exploration business. UAE offers high liquidity in gold and an easy operational environment and political stability. The company also operates Wishbone II, III and IV, and White Mountain properties that are located in Queensland, Australia.
The company revised its strategy during the H1 2020 due to Covid-19 crisis and decided that they should refocus on the primary activities of exploration properties that are in Australia as against their primary trading market in Africa. Due to uncertainty related to pandemic, the company said it will try to continue to have an influence in the coming years and would focus on Australia as it has more secure source of physical gold for the future.
WISHBONE GOLD PLC 57/63 Line Wall Road, P.O. Box 199 GX11 1AA Gibraltar