Company and Mining

3 August 2017

White Cliff Minerals-170526-150

White Cliff Minerals Limited (“White Cliff” or “the Company“) is pleased to announce a non-renounceable pro rata offer on one New Share (1) for every two (2) White Cliff Shares held at an issue price of $0.002 per New Share to raise up to approximately $1,879,477 (Rights Offer).

The Rights Offer is underwritten to the amount of $1 million by Sydney-based Gleneagle Securities Nominees Pty Ltd (“Gleneagle“) and will be available to White Cliff Shareholders registered at 5.00pm WST on 9 August 2017.

In addition, the Company has entered into a “best endeavours” placement mandate for Gleneagle to raise up to a further $1 million by the placement of up to 500,000,000 additional New Shares in the Company at an issue price of $0.002 per New Share (Placement).

The funds raised by the Rights Offer and proposed Placement will be used primarily for:

  • drilling of the Company’s flagship Aucu gold project in the Kyrgyx Republic and associated exploration costs;
  • drilling of selected gold targets within the Company’s Western Australian gold project tenement package;
  • general working capital; and
  • pursuing a dual listing of the Company’s ordinary shares on the UK AIM market.

To view the full ASX Announcement, please click here;

ASX Announcement