On 3 August 2017, White Cliff Minerals Limited (Company) announced a proposed partially underwritten one (1) for two (2) non-renounceable pro rata offer at an issue price of A$0.002 per share to raise up to approximately A$1,879,477 (before expenses) (Offer).
Full details of the Offer are in the prospectus setting out the Offer (Prospectus) (see the link below) and the Appendix 3B lodged with ASX on 4 August 2017.
Eligibility to Participate
The Offer is based on the number of Shares held by a shareholder at 5.00pm on Wednesday, 9 August 2017 (Record Date).
The Offer does not apply to your holding of White Cliff Minerals options (Options).
To be eligible to participate in the Offer in respect of your Options, you will need to exercise those Options and be registered (with a registered address in Australia or New Zealand) as the holder of the underlying White Cliff Minerals shares as at the Record Date being 9 August 2017.
If you do not wish to participate in the Offer (in respect of your Options) you do not need to take any action.
To exercise some or all of your Options you will need to give notice in writing to White Cliff Minerals in accordance with the terms and conditions of your Options together with payment of the exercise price for each Option exercised.
If you do not exercise your Options, then after the Closing Date of the Offer an adjustment may be made to the exercise price of your White Cliff Minerals options in accordance with the terms and conditions of the Options.
To view the full letter, please visit:
To view the Rights Issue Prospectus, please visit:
About White Cliff Minerals Ltd
White Cliff Minerals Ltd (ASX:WCN) is a Western Australian based exploration company with the following main projects:
Kyrgyz Aucu Gold Project (90%): The Project contains extensive porphyry related gold and copper mineralisation starting at the surface and extending over several kilometres. Drilling during 2014-6 has defined a gold deposit currently containing an inferred resource of 1.8Mt at 5.2 g/t containing 302,000 ounces of gold and 608,000 tonnes at 0.64% copper containing 3870 tonnes of copper. Drilling has also defined a significant copper deposit at surface consisting of 10Mt at 0.41% copper containing 41,000 tonnes of copper.
Extensive mineralisation occurs around both deposits demonstrating significant expansion potential. The project is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek and covers 57 square kilometres. The Chanach project is located in the western part of the Tien Shan Belt, a highly mineralised zone that extending for over 2500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan to western China.
Merolia Gold and Nickel Project (100%): The project consists of 771 square kilometres of the Merolia Greenstone belt and contains extensive ultramafic sequences including the Diorite Hill layered ultramafic complex, the Rotorua ultramafic complex, the Coglia ultramafic complex and a 51 kilometre long zone of extrusive ultramafic lavas. The intrusive complexes are prospective for nickel-copper sulphide accumulations possibly with platinum group elements, and the extrusive ultramafic rocks are prospective for nickel sulphide and nickel-cobalt accumulations.
The project also contains extensive basalt sequences that are prospective for gold mineralisation including the Ironstone prospect where historical drilling has identified 24m at 8.6g/t gold. Soil sampling in 2016 has identified multiple mineralised gold trends at Burtville Ea
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