logo-loader
viewWhite Cliff Minerals Ltd

White Cliff Minerals gains new substantial shareholder with 6.57% stake

New Zealand-based Denman Income Limited has purchased 15.19 million shares valued at more than $230,000.

Australian bank notes
The company is undertaking a review of its gold and nickel-cobalt assets

White Cliff Minerals Ltd (ASX:WCN) has a new substantial shareholder in New Zealand-based Denman Income Limited, which has a 6.57% stake.

Denman has reached this status by accumulating shares between December 12, 2018, and March 8, 2019, with a total value of $213,040.

The investor now holds a total of 15.19 White Cliff securities with the shares last trading at 0.7 cents.

READ: White Cliff Minerals raises capital amid cost reductions and strategic asset review

White Cliff is undertaking a partially underwritten non-renounceable entitlements offer to shareholders to raise up to almost $1,155 million.

The entitlement offer is underwritten to the amount of $1 million by Perth-based CPS Capital Group Pty Ltd.

One new share for every one White Cliff share held will be issued at a price of 0.5 cents and each new share will include one free-attaching option exercisable at 1.5 cents.

READ: White Cliff Minerals takes stock of battery metals and gold assets including high-grade Aucu project

Funds raised will be used for development work at the Chanach Gold-Copper Project in the Kyrgyz Republic as well as at the Coronation Dam and Ghan Well cobalt-nickel projects in Western Australia.

Quick facts: White Cliff Minerals Ltd

Price: 0.01 AUD

ASX:WCN
Market: ASX
Market Cap: $4.87 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of White Cliff Minerals Ltd named herein, including the promotion by the Company of White Cliff Minerals Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read