WRM - White Rock Minerals

[Chronos-Plutus]

No doubt about that C-P Can be a bumpy ride at times ... i put extra springs in my office chair so I can cope with the stress

Haha; I try to see it as more excitement than stress. My first trading/investment filter in the junior mining explorer space is that they must be actively exploring and drilling. So many juniors out there that are just sitting around and doing nothing.

 

[Dona Ferentes]

AUSTAR GOLD (AUL) TO BE ACQUIRED BY WHITE ROCK MINERALS (WRM)


Highlights:

White Rock to acquire 100% of AuStar Gold by way of scheme of arrangement in an allshare transaction under which, if implemented, AuStar Gold shareholders will receive 0.78 White Rock shares for every AuStar Gold share held.
• The Scheme delivers significant value to AuStar Gold shareholders. The implied price of the Scheme consideration represents a premium of approximately 47% based on the last trading price of AUL shares on 1st February 2021 and 56% based on the 1-month VWAP of AUL shares.
• The Scheme moves White Rock into the league of gold producers and secures a large (~670km²) under-explored land package with historic high-grade gold production in the highly prospective Victorian goldfields

 

[noirua]

White Rock Minerals Ltd

www.whiterockminerals.com.au

Woods Point — White Rock Minerals Ltd

www.whiterockminerals.com.au

White Rock acquired the Woods Point Gold Project by way of merger with ASX-listed AuStar Gold (ASX:AUL) in mid-2021, bringing a functioning gold mine, gravity plant and a significant gold exploration package into the White Rock portfolio.

Red Mountain / Last Chance — White Rock Minerals Ltd

www.whiterockminerals.com.au

The Red Mountain VMS and Last Chance IRGS gold project is located in Alaska (USA), a sparsely populated, pro-mining, and highly prospective region that boasts large mines including Pogo, Fort Knox, and Usibelli. Alaska is ranked 5th of 83 mining jurisdictions by the well-regarded Fraser Institute.​

LAST CHANCE GOLD PROJECT​

The Last Chance gold project is located within the Tintina Gold Province, host to giant intrusion-related gold system (IRGS) deposits including Donlin Creek (45 Moz Au), Fort Knox (13.5 Moz Au), and Pogo (10 Moz Au), which are all Cretaceous aged IRGS deposits.

Mount Carrington — White Rock Minerals Ltd

www.whiterockminerals.com.au

The advanced Mt Carrington gold and silver project is located 5 km from the township of Drake in northern NSW, approximately 4 hours by car, southwest of Brisbane, and 2 hours west from the world-famous tourist resort at Byron Bay.​

 

[Dona Ferentes]

White Rock Minerals is an ASX listed explorer and near-stage gold producer with three key assets:
• Woods Point – New asset: Victorian gold project. Bringing new strategy and capital to a large 660km2 exploration land package and high-grade gold mine (past production 883,000oz @ 26.5g/t).
• Red Mountain / Last Chance – Key Asset: Globally significant zinc–silver VMS polymetallic and IRGS gold project. Alaska – Tier 1 jurisdiction.
• Mt Carrington – Near-term Production Asset: JORC resources for gold and silver, on ML with a PFS and existing infrastructure, with the EIS and DFS being advanced by JV partner.

There's a claim that it will be the next gold producer, but at what cost? Hefty discount, and a Convertible Note to dilute further. Was 60c a year ago, now 13.5c after the 30% drop on this news:

• White Rock Minerals announces a Placement to raise approximately A$2.4 million (before costs).
• Subject to Shareholder approval, White Rock will issue one free attaching unlisted option for every two Shares subscribed for by participants under the Placement.
• Subject to Shareholder approval of the Placement Options, White Rock intends to make a bonus offer of Options to all eligible Shareholders on a 1 for 2 basis of Shares held at the relevant record date.
• The Placement Offer price of A$0.15 per share represents:-
o .... a 25% discount to the last traded price of White Rock shares (20cps), and
o .... a 25% discount to the 15-day VWAP for White Rock Shares (20cps).
• The exercise price of the Placement Options and Loyalty Options will be A$0.15 each (being the same as the issue price under the Placement).
• In addition, White Rock has entered into a non binding term sheet with Obsidian Global Partners, LLC in connection with a proposed convertible note and equity facility under which Obsidian may invest up to A$30 million in White Rock over a 24 month period, and which contemplates an initial A$3.5 million investment by way of convertible notes (subject entry into definitive documentation and Shareholder approval). Conversion of convertible notes is subject to a floor price of A$0.15
• The funds raised will be used to propel White Rock into the league of gold producers

 

[System]

WRM was removed from the ASX's Official List on 18 March 2024.