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White Rock Minerals finalises raising with oversubscribed rights issue

The project is supported by $20 million in existing infrastructure.
White Rock Minerals finalises raising with oversubscribed rights issue
In total $5.7 million was raised

White Rock Minerals (ASX:WRM) has received strong investor support in its recent capital raising, and has now placed the remaining rights issue shortfall.

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."

View full WRM profile

White Rock Minerals Timeline

December 01 2016

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