White Rock Minerals Ltd: Completion of Placement
Ballarat, Australia - White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) today announces the successful completion of the placement of fully paid ordinary shares (Shares) to institutional and sophisticated investors, as announced on 6 December 2021 (Placement). The Placement raised $2.25 million (before costs).A total of 9,375,000 Shares have been issued under the Placement at an issue price of $0.24 (24 cents) per Share. The Shares issued under the Placement will rank equally with existing shares.
The proceeds from the Placement will be used for:
- in-mine and regional exploration activities at its high-grade Woods Point Gold Project in Victoria;
- recapitalisation of the Morning Star gold mine and gold processing facility and for care and maintenance of the mine; and
- working capital.
Viriathus Capital Pty Ltd and Henslow Pty Ltd acted as joint lead managers to the Placement.
About White Rock Minerals Ltd:
White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 609g/t AgEq / 13% ZnEq. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve.
Source:
White Rock Minerals Ltd.
Contact:
Matthew Gill or Shane Turner Phone: +61-3-5331-4644 Email: info@whiterockminerals.com.au www.whiterockminerals.com.au