White Cliff Minerals Secures A$14.4m to Accelerate Rae Copper Drilling

Capital Raise Highlights Investor Confidence

White Cliff Minerals Limited (ASX: WCN) has successfully completed a capital raising round totalling approximately A$14.4 million, achieved at an average premium of 29% to the company’s last closing share price. This funding boost was anchored by a significant flow-through share component under Canadian tax legislation, which alone raised A$12.4 million at a 38.9% premium, complemented by a A$2 million placement at a slight discount.

The raise was cornerstoned by John Hancock, the company’s Strategic Advisor and largest shareholder, alongside his family office Astrotricha Capital SEZC. Their involvement, together with new institutional investors from Australia, the UK, Hong Kong, and Singapore, underscores growing international confidence in White Cliff’s exploration strategy and the potential of its Rae Copper Project.

Accelerating Exploration at Rae Copper Project

The freshly raised capital is earmarked to expand and accelerate drilling activities at the Rae Copper Project, with operations scheduled to recommence in mid-July. The company plans to deploy both reverse circulation and diamond drilling techniques, offering flexibility to target mineralisation more effectively. Additionally, aerial and downhole geophysical surveys will refine drill targets, enhancing the precision of exploration efforts.

Recent visual results from drilling at the Danvers prospect have been encouraging, and White Cliff anticipates releasing further assay results for holes 5, 6, and 7 in the coming weeks. These results are expected to lay the groundwork for defining a maiden exploration target, potentially delineating a material copper resource along the project’s extensive 7+ kilometre strike.

Strategic Positioning and Future Outlook

John Hancock’s transition from strategic advisor to the company’s largest shareholder reflects a deepening commitment to White Cliff’s vision. Hancock highlighted the company’s focus on minimising shareholder dilution while attracting strategic capital to accelerate exploration and secure long-term financial stability.

With copper prices maintaining a robust outlook, White Cliff is well-positioned to capitalise on its strengthened balance sheet. Beyond Danvers, drilling is also planned at the Hulk prospect, a major sedimentary-hosted copper target. Pre-collar drilling has already reached close to the target horizon, with diamond rigs expected to arrive shortly to advance these efforts.

Overall, this capital raise not only provides the financial firepower to advance exploration but also signals growing global investor interest in White Cliff’s copper assets, potentially setting the stage for significant discoveries in the near term.