Hydrocarbon Dynamics Limited (HCD) is set to transform its business by acquiring the Great Bear Copper-Gold-Silver-Uranium Project in Canada, backed by a $5.5 million capital raise and plans to re-list on the ASX under a new name.
- Conditional acquisition of Great Bear Project from White Cliff Minerals
- Project spans over 2,800 km² with high IOCG-U mineralisation potential
- Minimum $5.5 million public offering planned alongside 1:10 share consolidation
- Company to rebrand as Great Bear Exploration Ltd and seek ASX re-admission
- Transaction subject to shareholder and regulatory approvals, plus due diligence
A Strategic Shift for HCD
Hydrocarbon Dynamics Limited (ASX: HCD), traditionally focused on oil and gas production chemicals, has announced a significant strategic pivot. The company has entered into a conditional binding agreement to acquire the Great Bear Copper-Gold-Silver-Uranium Project from White Cliff Minerals Ltd (ASX: WCN). This move marks a decisive entry into mineral exploration and development, targeting a project with promising historical production and exploration credentials.
The Great Bear Project: A Vast and Promising Asset
Located in the Northwest Territories of Canada, the Great Bear Project covers more than 2,800 square kilometres. The region is recognised by the Northwest Territories Geoscience Office as having the highest potential in Canada for Iron Oxide Copper Gold Uranium (IOCG-U) style mineralisation. Historical mining nearby has yielded significant quantities of uranium oxide, refined silver, copper with gold credits, and other base metals, underscoring the district’s mineral richness.
Recent exploration by White Cliff Minerals in 2024 has validated previous work and identified multiple high-grade surface samples, including exceptional assays such as 42.6% copper with gold and silver credits, and silver grades exceeding 7%. An airborne MobileMT geophysical survey further highlighted 10 prospective targets for IOCG-U or epithermal mineralisation, setting the stage for focused exploration.
Capital Raising and Corporate Restructuring
To fund the acquisition and exploration activities, HCD plans a minimum $5.5 million public offering, issuing up to 325 million shares at 2 cents each on a post-consolidation basis. The company will consolidate its issued capital on a 1:10 basis and change its name to Great Bear Exploration Ltd, reflecting its new focus. The ASX code will also change to ASX:GRL.
The transaction requires HCD to re-comply with Chapters 1 and 2 of the ASX Listing Rules, with trading currently suspended pending completion of the acquisition, capital raising, and regulatory approvals. Shareholder approval will be sought at a general meeting expected in April 2026.
Risks and Opportunities Ahead
While the acquisition offers a compelling opportunity to develop a world-class resource portfolio, it comes with typical exploration risks, including the need for further funding, regulatory approvals, and successful resource delineation. The company acknowledges dilution risks for existing shareholders and the uncertainty of ASX re-admission. However, the board views the project’s potential for silver, gold, copper, and uranium as a strong foundation for future growth.
Experienced personnel from White Cliff Minerals are set to join the board and management team, bringing valuable expertise to the new venture. The company’s immediate focus will be on systematic exploration, including remote sensing, geological mapping, sampling, and drilling to advance the project towards development.
Looking Forward
HCD’s transformation into Great Bear Exploration Ltd signals a bold new chapter, leveraging a significant Canadian asset with promising mineralisation. Investors and market watchers will be keenly observing the upcoming shareholder meeting outcomes, capital raising progress, and early exploration results that will shape the company’s trajectory in the competitive mining sector.
Bottom Line?
HCD’s acquisition of Great Bear is a high-stakes gamble on mineral exploration that could redefine its future; watch closely as approvals and exploration unfold.
Questions in the middle?
- Will HCD secure shareholder and ASX approvals to complete the acquisition and re-listing?
- How will the company prioritise and fund exploration to unlock the Great Bear Project’s potential?
- What impact will the significant share dilution have on existing shareholders’ value?