White Cliff Minerals Secures A$15m Capital, Appoints Hancock as Director
White Cliff Minerals appoints mining veteran John Hancock to its board and engages Astrotricha Capital as advisors, setting the stage for a major drilling campaign at the Rae Copper Project.
- John Hancock appointed Non-Executive Director from August 2025
- Astrotricha Capital SEZC engaged as strategic advisors
- Upcoming drilling at Rae Copper Project’s Danvers deposit and Hulk anomaly
- Director Daniel Smith to retire on 1 August 2025
- Performance rights and options proposed to align directors with company milestones
Strategic Board Appointment and Advisory Mandate
White Cliff Minerals Limited (ASX, WCN) has announced the appointment of John Hancock as a Non-Executive Director effective 1 August 2025. Hancock, a seasoned figure in mining and exploration with over four decades of experience, brings a wealth of industry knowledge and capital markets expertise. Alongside his board role, White Cliff has engaged Astrotricha Capital SEZC, a family office led by Gavin Rezos, as strategic advisors to support the company’s next phase of growth.
Capital Backing and Exploration Momentum
Hancock and Astrotricha have been instrumental in raising over A$15 million for White Cliff through two successful capital raises. Hancock has also become the company’s largest shareholder via on-market purchases. This strong financial backing arrives as White Cliff prepares to commence a significant drilling campaign at its Rae Copper Project in Canada’s Great Bear Lake region. The campaign will target the high-grade Danvers deposit and the large geophysical anomaly known as Hulk, both promising prospects for sediment-hosted copper mineralisation.
Incentivising Growth Through Performance Rights
To align management and board interests with shareholder value creation, White Cliff has proposed a comprehensive incentive package subject to shareholder approval. John Hancock and Astrotricha’s CEO Gavin Rezos are set to receive performance rights tied to market capitalisation milestones ranging from A$100 million to A$200 million, alongside options exercisable at 5 and 7 cents. Similarly, key executives including Managing Director Troy Whittaker will be granted performance rights linked to exploration success metrics such as copper discovery size, grade, metallurgical recovery, and economic assessments.
Leadership Changes and Project Outlook
In a related development, director Daniel Smith will retire from the board on 1 August 2025 to focus on other professional interests. The company expressed gratitude for his five years of service. Meanwhile, White Cliff’s Rae Copper Project continues to show promise, with historic drilling intercepts revealing substantial copper and silver grades. Although these historic estimates are not JORC-compliant and require further validation, the upcoming drilling campaign is highly anticipated as a potential catalyst for re-rating the company’s resource base.
Looking Ahead
With a strengthened board, strategic advisory support, and robust capital position, White Cliff Minerals is poised to advance its exploration ambitions in one of the world’s most prospective copper regions. The market will be watching closely for drilling results that could validate the company’s high-grade targets and unlock significant value.
Bottom Line?
White Cliff’s strengthened leadership and advisory team set the stage for a pivotal drilling campaign that could redefine its copper prospects.
Questions in the middle?
- Will the upcoming drilling at Rae confirm the historic high-grade copper intercepts?
- How will the market respond to the proposed performance rights and options for directors?
- What impact will John Hancock’s and Astrotricha’s involvement have on White Cliff’s strategic direction and capital access?
