In total between the placement and rights issue, the company raised $5.7 million before costs, which will be allocated to the wholly-owned Mt Carrington project.
The project hosts a near-surface resource of 338,000 ounces of gold and 23.4 million ounces of silver.
Matt Gill, managing director, commented on the placement:
"White Rock will now be able to advance the current Mt Carrington Scoping Study to
Definitive Feasibility Study level, and progress the necessary permitting through completion of its Environmental Impact Statement.
"Once these two activities are completed, and subject to certain conditions precedent, the proposed US$19 million financing package offered by Cartesian Royalty Holdings will enable us to build and commission the mine, and so unlock the full potential of our project."