Rights Issue Shortfall
The Company has been advised by the rights issue underwriter, Gleneagle Securities Nominees Pty Ltd, that it has received commitments from its clients to place all the shortfall shares, being 471,142,147 ordinary shares. The allocation of the shortfall shares will occur in accordance with the rights issue timetable, and if completed in full, will raise an additional $942,284 in working capital for the Company.
About White Cliff Minerals Ltd
White Cliff Minerals Ltd is a Gold, Copper, Cobalt, Nickel resources and mining company listed in Australia (ASX:WCN). The Company is focused on developing low cost high value mineral deposits that have near term cash flow potential.
Major projects include the Aucu gold deposit that contains 484,000 ounces of gold (3mt at 5.1 g/t) starting at surface and Chanach copper deposit that contains 64,000 tonnes of copper (17.2Mt at 0.37% copper). Both projects have substantial blue sky potential with drilling covering only 5% of the known structures. In Australia the company is developing the Coronation Dam cobalt–nickel deposit where a maiden resource will be announced in the late 2018.
White Cliff Minerals Ltd