PERTH (miningweekly.com) – Junior explorer White Cliff Minerals is looking to monetize its non-core Western Australian assets, following a strategic review.
The company told shareholders that it has started discussions with various partners regarding its non-core assets, with options at the assets ranging from joint ventures to outright sales.
The assets being assessed included the Coglia Well and Bremer Range cobalt projects.
Meanwhile, an advisory firm has been appointed to assist in evaluating the various options to unlock value from the Chenach gold/copper project, with White Cliffs on Monday saying that the Chenach, Coronation Dam and Ghan Well projects will remain the key focus of the company.
White Cliffs on Monday also announced the intention to raise up to A$1.15-million through a non-renounceable entitlement offer, priced at 0.5c a share, to complete the alluvial bulk sampling programme at Chenach.
Some 230.97-million new shares, along with 230.97-million new options, exercisable at 1.5c each by the end of February 2014, will be issued.