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White Cliff Minerals Limited ( (AU:WCN) ) just unveiled an update.
White Cliff Minerals has agreed to sell 100% of its Great Bear copper-gold-silver-uranium project in Canada to Hydrocarbon Dynamics for A$5.8 million in cash and shares, retaining a 9.9% stake in the renamed Great Bear Exploration. A large portion of the share consideration will be distributed in specie to existing White Cliff shareholders, while proceeds are earmarked to strengthen the balance sheet and fund drilling at the flagship Rae Project.
As part of a broader strategic reset, the company has appointed Gavin Rezos as non-executive chair and Sara Kelly as non-executive director, with outgoing director Roderick McIllree moving to an executive role at Great Bear Exploration. Kelly is also set to receive time-based performance rights subject to shareholder approval, aligning new board incentives with the company’s next phase of growth and project execution.
The most recent analyst rating on (AU:WCN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on White Cliff Minerals Limited stock, see the AU:WCN Stock Forecast page.
More about White Cliff Minerals Limited
White Cliff Minerals is an Australian-listed mineral exploration company focused on copper, gold, silver and uranium projects. The company is concentrating its efforts on the Rae Project while seeking to realise value from non-core assets and optimise its capital structure for exploration-led growth.
Average Trading Volume: 5,265,195
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$41.04M
See more insights into WCN stock on TipRanks’ Stock Analysis page.