White Cliff Minerals Ltd: Letter to Option Holders and Rights Issue Prospectus
Perth - White Cliff Minerals Ltd. (ASX:WCN) ("White Cliff' or the "Company"), advises that the attached letter (see the link below) has today been sent to WCN Option Holders.On 3 August 2017, White Cliff Minerals Ltd. (Company) announced a proposed partially underwritten one (1) for two (2) non-renounceable pro rata offer at an issue price of A$0.002 per share to raise up to approximately A$1,879,477 (before expenses) (Offer).
Full details of the Offer are in the prospectus setting out the Offer (Prospectus) (see the link below) and the Appendix 3B lodged with ASX on 4 August 2017.
Eligibility to Participate
The Offer is based on the number of Shares held by a shareholder at 5.00pm on Wednesday, 9 August 2017 (Record Date).
The Offer does not apply to your holding of White Cliff Minerals options (Options).
To be eligible to participate in the Offer in respect of your Options, you will need to exercise those Options and be registered (with a registered address in Australia or New Zealand) as the holder of the underlying White Cliff Minerals shares as at the Record Date being 9 August 2017.
If you do not wish to participate in the Offer (in respect of your Options) you do not need to take any action.
To exercise some or all of your Options you will need to give notice in writing to White Cliff Minerals in accordance with the terms and conditions of your Options together with payment of the exercise price for each Option exercised.
If you do not exercise your Options, then after the Closing Date of the Offer an adjustment may be made to the exercise price of your White Cliff Minerals options in accordance with the terms and conditions of the Options.
To view the full letter, please visit:
http://abnnewswire.net/lnk/662CVRDI
To view the Rights Issue Prospectus, please visit:
http://abnnewswire.net/lnk/D071655K
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 has defined a major gold discovery with an initial inferred resource of 1.15Mt at 4.2 g/t containing 156,000 ounces of gold. Additional drilling in 2015 identified extensions of known high grade gold mineralisation with intersections as high as 8 metres at 55 g/t gold. In addition drilling has also defined a significant copper deposit at surface consisting of 10Mt at 0.41% copper containing 40,000 tonnes of copper. Extensive mineralisation occurs around both deposits demonstrating significant potential to increase the existing resources.
The project is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek and covers 83 square kilometres. The Chanach project is located in the western part of the Tien Shan Belt, a highly mineralised zone that extends for over 2,500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan into 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 lava’s. 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
Contact:
White Cliff Minerals Ltd.
E: info@wcminerals.com.au
T: +61-8-9321-2233
www.wcminerals.com.au