As outlined in the prospectus lodged on Friday, 4 August 2017, the Rights Issue will raise up to $1,879,477 by the issue of up to 939,738,862 Shares at an issue price of $0.002 and is partially underwritten by Gleneagle Securities Nominees Pty Ltd to the amount of $1,000,000.
The new closing date for the Rights Issue is 5.00pm WST on Friday, 1 September 2017. A revised timetable for the Rights Issue is as follows: Event Date
Closing Date of Offers
Friday, 1 September 2017
New Shares issued
Friday, 8 September 2017
Ordinary trading of new Shares commences
Monday, 11 September 2017
The above dates are indicative only and may be subject to change. The Directors may vary these dates subject to any applicable requirements of the Corporations Act or the Listing Rules. The Directors may extend the Closing Date by giving at least three business days' notice to ASX before the Closing Date.
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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