White Energy Completes $3.83 Million Entitlement Offer to Boost Exploration

White Energy Company Limited ( (AU:WEC) ) just unveiled an update.

White Energy Company Limited has successfully completed its renounceable pro rata entitlement offer, raising approximately $3.83 million before costs. The funds will be used to advance mineral exploration activities across several projects in Australia, support general corporate purposes, and potentially repay unsecured loans. The issuance of new shares is set to commence trading on March 28, 2025, and the company reserves the right to issue any shortfall within three months, potentially impacting its financial flexibility and exploration capabilities.

More about White Energy Company Limited

White Energy Company Limited operates in the mining and energy sector, focusing on mineral exploration and the development of energy resources. The company is engaged in projects across Australia, including the Specimen Hill Project in Queensland, the Robin Rise project in South Australia, the Tindal project in Northern Territory, and the Maranoa project in Queensland.

YTD Price Performance: 430.0%

Average Trading Volume: 935

Technical Sentiment Signal: Hold

Current Market Cap: $3.75M

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