Economy 16-03-2024 13:02 9 Views

WCNOE Underwriting Completed – A$4.33M Raised

White Cliff Minerals Limited (White Cliff or the Company) is pleased to advise gross proceeds of A$4.33m of funds have been received before costs through the successful conversion of 288,528,071 WCNOE Options1.

With the funds from the option exercise by option holders and the Underwriter, in addition to the recent Director and KMP conversions of unlisted options, the Company now has ~A$6.33M in cash and listed investments2.

The Company is now well funded to focus on its upcoming exploration programs, details of which will be provided in due course.

Commenting on the funding, White Cliff Chairman, Roderick McIllree said:

“The completion of this funding makes the Company an interesting investment proposition. With a market capitalisation of circa $25m which includes ±AUD$6.3m we are funded for multiple work programmes at Radium Point, our uranium & silver rich IOCG project and Coppermine, the high-grade copper gold and silver project in Nunavut.

The first of these exploration campaigns by Expert Geophysics3 airborne survey experts at Coppermine where we continue to build full mobilisation in anticipation of a significant field deployment in the coming months.

Next up will be the completion of contractor and service providers for the complimentary campaigns at Radium Point the Uranium Silver IOCG project, and I look forward to updating shareholders on this in the not-too-distant future along with additional project acquisitions and executive appointments.”

Click here for the full ASX Release

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