# WCN - White Cliff Minerals



## System (19 August 2010)

White Cliff Nickel Limited (WCN) is a nickel exploration company with the projects located in Western Australia.

http://www.wcnickel.com.au


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## hobo-jo (28 September 2010)

*Re: WCN - White Cliff Nickel*

Given recent Gold and Copper prices I'm surprised I haven't seen more interest here!

From an announcement yesterday:



> White Cliff Nickel (ASX: WCN) has reported that channel sampling across the first bulldozer trench completed at Chanach has identified a zone of copper mineralisation with a high grade core of 28 metres at 1.02% copper within a mineralised halo of 45 metres at 0.94% Copper, including a peak channel sample value of 3.24% copper.
> 
> The Chanach Gold Copper Project consists of 93 square kilometres and is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek.
> 
> In addition to the "outstanding" result in the first trench, extensive copper alteration zones have been identified in bulldozer trenches over a 450m distance rock chip sampling has identified high grade gold and copper results up to 26 g/t gold and 6.1% copper.



http://www.proactiveinvestors.com.a...opper-discovery-at-chanach-project-10318.html


I also covered WCN in a post on my blog last night:


> You could be forgiven for wondering why I would be covering a nickel company on a blog about Gold & Silver stocks! However, if you look further than the name it is soon obvious that WCN is much more than just a nickel explorer.



Continues at: http://bullionbaron.blogspot.com/


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## hobo-jo (29 September 2010)

*Re: WCN - White Cliff Nickel*

Yesterday's announcement followed up by yet another today:

*White Cliff Nickel identifies further copper zones at Chanach*


> White Cliff Nickel (ASX: WCN) has discovered more zones of copper mineralisation from channel sampling of the second bulldozer trench completed at the Chanach Gold Copper Project located in the Kyrgyz Republic adding to previous results from the first trench.
> 
> On 27th September the company announced a copper rich zone containing a high grade core of 28 metres at 1.02% copper within 45 metres at 0.94% copper including a peak channel sample value of 3.24% copper.
> 
> ...





Will be interesting to see if the RC drilling program hits some similar grades at depth...


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## springhill (26 July 2012)

Market Cap - $1.6M
SP - 2.5c
Shares - 67.2M
Options - 5.8M
Cash (31 Mar 2012) - $1M

*Board*
Todd Hibberd
Michael Langoulant
Rodd Boland

*Major Shareholders*
Thorney Fund 3%
Directors and Founders 30%
Top Twenty 43%

*2012 Exploration Program*
Planned exploration for 2012 includes extensive multi-element soil and rock sampling over the south-eastern parts of the license over the interpreted core of the porphyry system in conjunction with a ground or helicopter borne magnetic survey followed by scout drilling of the identified targets.
Exploration will also continue on the Central Chanach copper-gold deposit where drilling will focus on extending and expanding the zone of supergene oxide copper mineralisation and investigating the high (~2% copper) rock chip samples located on the magnetite skarn contact.

*Chanach Copper-Gold Project (45%):* 
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 extending for over 2500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan to western China. Mineralisation occurs as porphyry and epithermal systems developed within magmatic arcs, and orogenic type gold deposits that are structurally controlled. Major deposits located within 100km of Chanach contain up to 93 million ounces of gold and 25 million tonnes of copper. Initial work indicates that the project may host porphyry and skarn style gold and copper mineralisation. Drilling during 2010 and 2011 has identified extensive copper-gold porphyry mineralisation with copper values of up to 2.1%.

*Laverton Gold Prospect (100%)*
The project consists of 1200 square kilometres of tenement applications in the Laverton and Merolia Greenstone belts. The core prospects are Kelly Well and Eight Mile Well located 20km southwest of Laverton in the core of the structurally complex Laverton Tectonic zone immediately north of the Granny Smith Gold Mine (3 MOz) and 7 kilometres north of the Wallaby Gold Mine (7MOz). In addition, applications are pending over a large part of the Merolia Greenstone belt immediately around the historic (1.5MOz) Barnicoat gold mine southwest of Laverton.

*Mount Remarkable Project (100%): *
The project covers 266 square kilometres and is located approximately 170 km N-NE of Kalgoorlie and about 25 km SE of Kookynie in the Northern Goldfields. Included in the project area are the historic gold mining centres of Mt Remarkable and Yerilla which consists of several old workings. Major gold mines in the surrounding area include Sons of Gwalia, Tarmoola, Carosue Dam, Granny Smith, Wallaby and Sunrise Dam. The project includes several areas adjacent to and along strike from existing nickel deposits at Aublis, Yerilla and Boyce Creek. These deposits form Heron Resources Yerilla Nickel Project which contains 135 Mt @ 0.77% Nickel and 0.05% Cobalt.

*Lake Johnston Project (100%): *
The project covers over 650 square kilometres in the Lake Johnson Greenstone Belt, which contains the Emily Ann and Maggie Hayes nickel sulphide deposits. These mines have a total resource of approximately 140,000 tonnes of contained nickel. The project area was previously held by Norilsk and has excellent prospectivity for both komatiite associated nickel sulphides and amphibolite facies high-grade gold mineralisation.

*Ghan Well Project (100%): *
The project covers an area of 83km² located approximately 40km South-West of Laverton. The project is centred on a 6km long nickeliferous ultramafic unit. Minara Resources is currently mining from the Murrin East Pit along strike from the Company’s recent drilling. The cumulate textures observed in the ultramafic unit suggest the unit is prospective for Nickel sulphide mineralisation at depth.


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## trillionaire#1 (26 July 2012)

i had a holding in this company a couple of years ago,sold it with many other small caps i had at the time 
as everyone went scrambling for blue chips and high dividends.

the SP has been very lacklustre for a long period ,hopefully they will find something to dig up with this extension 
from the Kyrgyz goverment till dec.2015


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## pavilion103 (16 October 2012)

What happened today!!


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## Miner (17 October 2016)

pavilion103 said:


> What happened today!!




After 4 years of your posting I am asking the same today 17 Oct 2016- what happened today? The gold assay has returned very poor than market expectation so the share price has dived down. Phillip Porter recommended it but they are only speculators


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## greggles (25 January 2019)

White Cliff Minerals stirring from its slumber today after reporting that visible gold has been identified in bulk samples collected in December 2018 as part of its bulk sampling program along a 450 metre section of the Chanach river alluvial terraces, one kilometre downstream from the Aucu Gold deposit. Visible gold was detected in 62 samples out of the 65 samples collected.

The samples have been submitted to the laboratory for analysis with results expected in late February.

WCN up 43.8% today to 2.3c following the announcement.


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## greggles (3 November 2020)

WCN is back on my watchlist after some recent encouraging announcements and positive share price movement.

Looks like the Reedy South Gold Project is firing up with a JORC 2012 compliant maiden Mineral Resource Estimate of  779,000 tonnes at 1.7g/t Au for 42,400 ounces delivered being announced on 29 October.

A ~3,000m RC and diamond drilling program is set to commence in the coming weeks.

Will take a closer look at recent announcements to bring myself back up to speed on the current status of the company's projects.


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## greggles (5 May 2021)

Assay results from Depth Extension Drilling at the Reedy South Gold Project are due any day now. The share price has already started moving north in anticipation.

Watch this space.


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## The Triangle (16 May 2021)

greggles said:


> Assay results from Depth Extension Drilling at the Reedy South Gold Project are due any day now. The share price has already started moving north in anticipation.
> 
> Watch this space.



Some $$ fluctuations in the past few months.   I'm amazed this didn't attract the attention of the ASX on the 5th - SP and volume skyrocketed - then some average announcements came out the next day.   Might be interesting for day traders and those with knowledge but for me Ill pass on this gold junior.

When it comes to juniors I prefer to invest in those who are diamond drilling (not rock chip and RC) and are majority run by those who have proven experience in building mines, or at least working in mines and are 100% dedicated to one job.   I don't like seeing accountants and lawyers on boards who are also involved with other ASX listed firms.  75% of the board also run a company that does IPOs and capital raisings.


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## greggles (18 May 2021)

The Triangle said:


> Some $$ fluctuations in the past few months.   I'm amazed this didn't attract the attention of the ASX on the 5th - SP and volume skyrocketed - then some average announcements came out the next day.   Might be interesting for day traders and those with knowledge but for me Ill pass on this gold junior.
> 
> When it comes to juniors I prefer to invest in those who are diamond drilling (not rock chip and RC) and are majority run by those who have proven experience in building mines, or at least working in mines and are 100% dedicated to one job.   I don't like seeing accountants and lawyers on boards who are also involved with other ASX listed firms.  75% of the board also run a company that does IPOs and capital raisings.




Yes, the recent announcement regarding the Reedy South Gold Project didn't meet market expectations and WCN was sold down afterwards. I still think there's some potential amongst WCN's various projects, but they're going to need to come up with some news that gets the market excited. So far it hasn't been forthcoming, but who knows what the future holds...


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## greggles (3 September 2021)

Something going on with WCN in the last couple of days. The share price is up from 1.1c to 1.6c and volume is also up substantially. No news has been announced but news from WCN has been thin for a while and it is probably about time that some news of substance is due.

My gut tells me that we will hear something from the company either today or very early next week.


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## greggles (25 November 2021)

WCN targeting lithium and REE in acquisition and tenement applications announced on Tuesday this week. The Company further announced today a $912,000 capital raising via the issue of 76,000,000 FPO shares at 1.2c a share.

It's been a disappointing 2021 for WCN but perhaps if they actually work hard to develop these new projects and tenements it may be a better 2022. Management have a lot of work to do to restore confidence in the company moving forward. Lithium and rare earth elements are certainly hot metals at the moment, so with some luck and hard work they might actually be able to move WCN forward.


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## The Triangle (25 November 2021)

Professional brokers also running a junior explorer?  Let me get this right Mahe Capital are doing the raising - and the 3 directors of Mahe Capital are...are all directors for white cliff?





__





						Mahe Capital
					






					mahe.capital
				




Got to love this industry.  Who needs to watch the bachelor when you can watch the ASX?


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## greggles (25 November 2021)

Agree that looks a little self serving, and is obviously being perceived by many as a conflict of interest. At least they are putting their money where their mouths are:



> Subject to shareholder approval at the Meeting, the directors of the Company (or their nominees) will apply for up to $60,000 worth of shares on the same terms as the Placement.


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## greggles (14 February 2022)

WCN has gone through three distinct heavy buying phases in the last few months, each time exhausting the available supply and pushing through to trade at higher levels.

With both lithium and rare earths projects in development, and a market cap of under $20 million, WCN could prove to be dark horse in 2022. Shareholder approval has just received for the acquisition of Magnet Resource Company and Preston River Lithium and management has stated that they are about to announce a systematic exploration plan for their lithium and REE projects.

I think we will see 5c in the short term as long as lithium and rare earths prices remain bullish.


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## greggles (11 March 2022)

WCN has entered into an agreement with GenX Resources Pty Ltd to farm-out the Company’s non-core Coronation Dam and Ghan Well nickel-cobalt projects.



> Pursuant to the Transaction, GenX will spend a minimum $250k on the Projects within six months of listing on ASX. Subject to meeting the minimum expenditure, GenX may elect to acquire 50% of the Projects by issuing $250k worth of GenX shares (10-day VWAP) to White Cliff. Thereafter, GenX has 18 months from its listing date to spend an additional $1m to earn an additional 30% of the Projects, bringing its total to 80%. Upon earning 80% interest of the Projects, GenX may elect to acquire the remaining 20% interest held by White Cliff (through its subsidiary) by paying $1m cash to White Cliff and granting a 2% Net Smelter Royalty on all minerals derived from the Projects to White Cliff. White Cliff may elect to receive the $1m in GenX shares (10-day VWAP) in lieu of the cash payment.
> 
> *The Transaction further reinforces White Cliff’s focus on its core, wholly-owned gold and Li/REE projects in Western Australia.*




With assay results from Reedy South Gold Project due soon, could this farm-out be a sign that they have found something substantial there and want to focus on developing it? The company said last month that results from the 74 hole RC drilling program at Cracker Jack and McCaskill Hill were "expected in mid to late-March".


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## greggles (1 April 2022)

WCN announced this morning that it has acquired the Abraxis Lithium Project from Abraxis Mining Pty Ltd for $40,000 cash, 80,000 WCN shares (at 2.7c per share) and a 1% NSR.

This looks like a nice strategic acquisition for WCN. Management seems very optimistic about the project's lithium prospectivity, but time will tell if this is an accurate assessment. It's good to hear boots will be on the ground as soon as possible for a field mapping and sampling program.


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## greggles (5 April 2022)

WCN has confirmed the presence of rare earths at its Hines Hill REE Project. Still early days but this is a very good sign.


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## greggles (31 May 2022)

The recent market correction along with an absence of news in the last month has caused the WCN share price to fall back to 2.1c. However, the WCNOE options started moving yesterday and are up a little more today.

Management needs to keep the news flow coming. WCN market cap is just $13.72 million. Lots of scope to grow that if they can advance their REE and lithium projects.


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## greggles (25 August 2022)

WCN up 36% today after announcing that REE were detected (up to 7800 ppm TREO) in rock chip samples from the Yinnetharra REE/Li project.

Results from a geochemical sampling program completed earlier this month are due in the next 2 to 3 weeks.

Not sure where WCN is going but with a marketr cap of ~8 million, it could move quickly either way.


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## The Triangle (25 August 2022)

...What will the capital raising be at?   

....rock chip samples...  Wake me when there's some drill holes showing a cross section. 



greggles said:


> The recent market correction along with an absence of news in the last month has caused the WCN share price to fall back to 2.1c. However, the WCNOE options started moving yesterday and are up a little more today.
> 
> Management needs to keep the news flow coming. WCN market cap is just $13.72 million. Lots of scope to grow that if they can advance their REE and lithium projects.



Investment in tiny market caps does have its advantages at times   I still find people who can't connect the share price to the market cap.


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## greggles (25 August 2022)

The Triangle said:


> ...What will the capital raising be at?
> 
> ....rock chip samples...  Wake me when there's some drill holes showing a cross section.
> 
> ...




I like small caps, but they are difficult to value and very risky. Backing a small cap is like betting red or black on roulette. You could double your money or do your dough, but at least it's exciting.

When I posted earlier today WCN was 1.8c. It got as high as 2.7c around 15 minutes before the close eventually finishing up at 2c. So WCN was a bit of a rollercoaster today, up and down throughout the day. The market can't seem to come to any consensus about what today's announcement means.

Regarding the capital raising I have no idea. In the June 2022 Quarterly Reports, the company said the following regarding its cash position.



> *Cash Position*
> 
> The Company’s cash position including listed investments as at 30 June 2022 was approximately $0.9 million. The Company retains sufficient funding to carry out its planned activities over the coming quarters.




They got a little more specific a bit later on.






So two quarters of cash left as of 30 June. They will be looking to raise capital next quarter at the latest.


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## frugal.rock (25 August 2022)

greggles said:


> up to 7800 ppm TREO



Are you sure about that figure...🤥🧐🤨

"780ppm TREO Discovered at Yinnetharra REE/Li Project"


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## greggles (25 August 2022)

frugal.rock said:


> Are you sure about that figure...🤥🧐🤨
> 
> "780ppm TREO Discovered at Yinnetharra REE/Li Project"




Typo. Sorry.


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## frugal.rock (25 August 2022)

I knew it was too good to be true, however, it made me look like a dirty chook. 🐔


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## frugal.rock (30 August 2022)

Still pumping...

Release of Securities from Escrow

Securities    
50,000,000 ordinary shares 

Escrow Period Expiry
28 August 2022


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## The Triangle (4 September 2022)

greggles said:


> I like small caps, but they are difficult to value and very risky. Backing a small cap is like betting red or black on roulette. You could double your money or do your dough, but at least it's exciting.
> 
> When I posted earlier today WCN was 1.8c. It got as high as 2.7c around 15 minutes before the close eventually finishing up at 2c. So WCN was a bit of a rollercoaster today, up and down throughout the day. The market can't seem to come to any consensus about what today's announcement means.
> 
> ...



... But what will the end of year accounts show for liabilities?  Quarterly reports only show half the equation.

... Just like clockwork..trading halt pending capital raising announcement...

Look at the sample numbers.  Why is there such a gap in the results that they presented to the market??



frugal.rock said:


> Still pumping...
> 
> Release of Securities from Escrow
> 
> ...



Never!  That doesn't happen on the ASX.


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## greggles (6 September 2022)

The Triangle said:


> ... But what will the end of year accounts show for liabilities?  Quarterly reports only show half the equation.
> 
> ... Just like clockwork..trading halt pending capital raising announcement...
> 
> ...




It's holding up OK though. The capital raise went through without any hiccups and it is trading well above the 1.8c the $1.7 million was raised at. Currently at 2.6c, up 13% on the day.

I have no idea about the end of year accounts liabilities, but we will find out soon enough.

Looking at the WCN chart objectively, it is looking bullish. The share price has doubled in the last couple of weeks. I'm not looking at WCN with rose coloured glasses but the short term trend is up. Although I concede that could change at any moment.

Management need to start kicking some goals on the exploration front. They now have a reasonable amount of working capital. They should use it wisely and deliver some results. Lithium is still hot but the clock is ticking. Get that drill bit working.


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