White Cliff Minerals Limited (AU:WCN)
ASX:WCN
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White Cliff Minerals Limited
(Sydney:WCN)
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Rating:51Neutral
Price Target:
AU$0.02
▲(100.00% Upside)
Action:Reiterated
Date:06/19/26
The score is held back primarily by weak financial performance—volatile minimal revenue, sustained losses, and persistent cash burn—despite the benefit of an unlevered balance sheet. Technical indicators are comparatively supportive (price above major moving averages with positive MACD), while valuation is constrained by negative earnings and no dividend data.
Positive Factors
No debt / conservative balance sheet
A zero-debt capital structure materially reduces solvency and interest-rate risk for an explorer. Over the next 2–6 months this conservatism preserves optionality to raise equity or agree farm-outs rather than servicing debt, supporting continued exploration activity.
Negative Factors
Persistent negative cash flow
Sustained operating and free cash flow deficits erode liquidity and force recurring external financing. Over a 2–6 month horizon this increases dilution risk or constrains program pace, making it harder to fund exploration and retain optionality without new capital.
Read all positive and negative factors
Positive Factors
Negative Factors
No debt / conservative balance sheet
A zero-debt capital structure materially reduces solvency and interest-rate risk for an explorer. Over the next 2–6 months this conservatism preserves optionality to raise equity or agree farm-outs rather than servicing debt, supporting continued exploration activity.
Read all positive factors
White Cliff Minerals Limited (WCN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$51.98M
Dividend YieldN/A
Average Volume (3M)9.60M
Price to Earnings (P/E)―
Beta (1Y)0.43
Revenue Growth641.25%
EPS Growth-12.36%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding2,898,453,400
10 Day Avg. Volume14,568,244
30 Day Avg. Volume9,603,234
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)3.94
Price to Sales (P/S)205.77
P/FCF Ratio-5.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
White Cliff Minerals Limited Business Overview & Revenue Model
Company Description
White Cliff Minerals Limited is an Australian-based company primarily engaged in discovering and advancing mineral deposits across the country. Its exploration efforts are focused on a diverse portfolio of metals, encompassing gold, lithium, rare ...
How the Company Makes Money
WCN does not typically generate recurring operating revenue in the way a producer or service company does. Instead, as a mineral explorer its funding and value-realisation model generally relies on raising capital to fund exploration programs and,...
White Cliff Minerals Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 217.73K | 200.00K | 229.37K | 3.05M | 0.00 | 10.00K |
| Gross Profit | 207.03K | 191.47K | 229.37K | 3.05M | -1.24K | 10.00K |
| EBITDA | -25.43M | -13.83M | -5.13M | -2.46M | -1.61M | -2.80M |
| Net Income | -22.79M | -13.84M | -13.51M | 3.16M | -2.07M | -2.01M |
Balance Sheet | ||||||
| Total Assets | 8.34M | 17.95M | 5.57M | 12.28M | 4.11M | 3.36M |
| Cash, Cash Equivalents and Short-Term Investments | 5.86M | 14.51M | 3.87M | 7.90M | 897.06K | 2.16M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 3.72M | 7.50M | 310.40K | 1.07M | 162.26K | 211.60K |
| Stockholders Equity | 4.62M | 10.46M | 5.26M | 11.22M | 3.95M | 3.15M |
Cash Flow | ||||||
| Free Cash Flow | -14.93M | -8.05M | -4.82M | -2.04M | -1.83M | -2.19M |
| Operating Cash Flow | -14.92M | -8.03M | -4.75M | -1.95M | -1.62M | -1.70M |
| Investing Cash Flow | 1.78M | 689.19K | 385.42K | 294.30K | -125.94K | 902.61K |
| Financing Cash Flow | 14.53M | 19.01M | 5.13M | 3.29M | 967.64K | 5.65K |
White Cliff Minerals Limited Technical Analysis
Positive
0.01
Price Trends
0.02
Positive
0.01
Positive
0.02
Positive
Market Momentum
<0.01
Negative
54.15
Neutral
21.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WCN, the sentiment is Positive. The current price of 0.01 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 54.15 is Neutral, neither overbought nor oversold. The STOCH value of 21.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:WCN.
White Cliff Minerals Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | AU$51.98M | -1.80 | -302.41% | ― | 641.25% | -12.36% | |
48 Neutral | AU$46.62M | -8.68 | -35.89% | ― | ― | -69.57% | |
48 Neutral | AU$37.06M | -18.12 | -4.97% | ― | ― | -187.50% | |
43 Neutral | AU$35.46M | -3.92 | -342.09% | ― | ― | -86.59% | |
43 Neutral | AU$35.82M | -2.56 | -50.09% | ― | 4939.45% | -187.90% | |
42 Neutral | AU$43.96M | -10.37 | -134.41% | ― | ― | -267.80% |
* Basic Materials Sector Average
AU:WCN
White Cliff Minerals Limited
0.02
>-0.01
-14.29%
AU:ODY
Odyssey Gold Limited
0.03
0.02
94.12%
AU:SFM
Santa Fe Minerals Ltd.
0.25
0.21
525.00%
AU:AGC
Australian Gold & Copper Ltd.
0.13
-0.02
-16.67%
AU:WGR
Western Gold Resources Ltd.
0.12
0.04
50.00%
AU:VTX
Vertex Minerals Ltd.
0.13
-0.13
-50.40%
White Cliff Minerals Limited Corporate Events
White Cliff issues new shares as Rae copper project signals large-scale potential
Jun 23, 2026
White Cliff Minerals has issued 10,519,829 ordinary shares following the conversion of an equivalent amount of WCNO, expanding its share capital without providing a disclosure document under the Corporations Act. The company confirmed it is compli...
White Cliff Minerals Lists Additional Shares Following Option Exercises
Jun 23, 2026
White Cliff Minerals Limited has applied for quotation on the ASX of 10,519,829 ordinary fully paid shares, issued following the exercise of options or conversion of other convertible securities. The new securities, to be traded under the existing...
White Cliff Director Increases Shareholding Through Option Conversion
Jun 22, 2026
White Cliff Minerals has reported a change in the holdings of director John Hancock, reflecting an internal rebalancing of his equity position. The disclosure highlights the company’s ongoing adherence to ASX governance rules requiring timel...
White Cliff Minerals Issues 81.7 Million Shares Following WCNO Conversion
Jun 22, 2026
White Cliff Minerals has expanded its share capital by issuing 81,668,120 ordinary shares following the conversion of an equivalent number of WCNO securities, as detailed in recent regulatory filings. The new shares were issued without a prospectu...
White Cliff Minerals Seeks ASX Quotation for 81.7 Million New Shares
Jun 22, 2026
White Cliff Minerals has applied to the ASX for quotation of 81,668,120 new ordinary fully paid shares, following the issue of these securities on 22 June 2026. The application indicates an expansion of the company’s quoted capital base, whi...
White Cliff Minerals Issues Over 45 Million Shares on WCNO Conversion
Jun 18, 2026
White Cliff Minerals has issued 45,655,719 new ordinary shares following the conversion of an equivalent number of WCNO securities, increasing its share capital base. The company confirmed that the issuance was conducted without a disclosure docum...
White Cliff Minerals Expands Share Capital with New ASX Quotation
Jun 18, 2026
White Cliff Minerals has applied to the ASX for quotation of 45,655,719 additional ordinary fully paid shares, expanding its listed securities on the exchange. The new shares, issued on June 18, 2026, reflect the conversion or exercise of existing...
White Cliff Minerals Issues Over 26 Million New Shares on WCNO Conversion
Jun 17, 2026
White Cliff Minerals has issued 26,040,337 new ordinary shares following the conversion of an equivalent amount of WCNO, expanding its issued capital base. The company stated that the shares were issued without a prospectus under the Corporations ...
White Cliff Minerals Seeks ASX Quotation for 26 Million New Shares
Jun 17, 2026
White Cliff Minerals Limited has applied to the ASX for quotation of 26,040,337 new ordinary fully paid shares under the code WCN, with an issue date of June 17, 2026. The newly quoted securities result from the exercise or conversion of existing ...
White Cliff Confirms Major New Copper Zone at Rae’s Danvers Prospect
Jun 16, 2026
White Cliff Minerals has reported another significant high-grade copper discovery at its Rae Copper Project, confirming a new mineralised zone parallel to the Teshierpi Fault Zone and highlighted by drillhole DAN26015, which intersected long inter...
White Cliff Unveils Exceptional High-Grade Copper Discovery at Danvers
Jun 9, 2026
White Cliff Minerals has reported an exceptional high-grade copper discovery at the Danvers prospect within its Rae Copper Project, highlighted by drillhole DAN26012 intersecting 19.81 metres at 6.64% copper, including several ultra high-grade int...
White Cliff sets in-specie capital return via distribution of ASX-listed securities
Jun 9, 2026
White Cliff Minerals Limited has lodged an updated notification with the ASX outlining a return of capital to shareholders via an in-specie distribution of securities in another listed entity. The transaction applies to holders of WCN ordinary sha...
White Cliff Minerals Halts Trading Ahead of Rae Copper Assay Results
Jun 8, 2026
White Cliff Minerals has requested a temporary halt in trading of its shares on the ASX as it prepares to release assay results from its Rae Copper Project. The halt, which is intended to remain in place until either the announcement is released o...
White Cliff Minerals Expands Share Capital Through WCNO Conversion
Jun 3, 2026
White Cliff Minerals Limited has issued 20,785,219 new ordinary shares following the conversion of an equivalent amount of WCNO, expanding its share capital base without providing a disclosure document under Part 6D.2 of the Corporations Act. The ...
White Cliff Minerals Seeks ASX Quotation for Over 20 Million New Shares
Jun 3, 2026
White Cliff Minerals Limited has applied to the ASX for quotation of 20,785,219 new ordinary fully paid shares, issued on June 2, 2026. The additional securities arise from the exercise or conversion of existing options or other convertible instru...
White Cliff Minerals Issues Performance Rights to Director Sara Kelly
Jun 2, 2026
White Cliff Minerals has disclosed a change in director Sara Kelly’s interests following the issue of new performance rights. The notice, lodged with the ASX, records that Kelly now holds Class Q, R and S Performance Rights indirectly throug...
White Cliff Minerals Issues 9 Million Unquoted Performance Rights
Jun 2, 2026
White Cliff Minerals has notified the market of the issue of 9,000,000 unquoted performance rights, recorded under the ASX code WCNAL and dated 28 May 2026. The move expands its pool of performance-based equity instruments, signalling continued us...
White Cliff Minerals Outlines Strategy to Advance Major Copper Discovery
Jun 2, 2026
White Cliff Minerals has released an investor presentation outlining its strategy to advance a significant copper discovery. The presentation emphasizes that all non-historical statements are subject to substantial risks and uncertainties and shou...
White Cliff Expands Rae Copper Footprint With High-Grade Danvers Drill Hits
Jun 1, 2026
White Cliff Minerals has reported further strong drilling results from the Danvers area at its Rae Copper Project in Nunavut, with assays extending the confirmed copper mineralised footprint to more than 1.8 kilometres in strike. Regional step-out...
White Cliff updates ASX on in‑specie return of capital
May 28, 2026
White Cliff Minerals has notified the ASX of an updated return of capital to shareholders, to be executed via an in‑specie distribution of securities in another ASX‑listed entity. The move applies to the company’s ordinary shares...
White Cliff Minerals Issues Replacement Meeting Notice and Proxy Forms
May 27, 2026
White Cliff Minerals has issued a replacement notice of meeting, explanatory memorandum and proxy form for its general meeting scheduled for 25 June 2026 in Perth, with the time and venue unchanged. The updated documents, available via the company...
White Cliff Minerals updates ASX on in‑specie capital return
May 25, 2026
White Cliff Minerals has notified the ASX of an updated return of capital to shareholders via an in‑specie distribution of securities in another listed entity. The corporate action applies to holders of the company’s ordinary shares an...
White Cliff Minerals Sets June 2026 General Meeting, Pushes Digital Voting
May 24, 2026
White Cliff Minerals has called a General Meeting of shareholders for 25 June 2026 in Perth, signaling routine corporate governance activity and providing formal notice through electronic distribution channels in line with recent changes to the Co...
White Cliff Minerals calls 2026 meeting to approve major shortfall share issues
May 22, 2026
White Cliff Minerals has called a general meeting of shareholders for 25 June 2026 in Perth to vote on approvals for issuing new shares linked to a recent capital raising. The meeting materials outline resolutions to ratify the issue of shortfall ...
White Cliff Minerals Moves to Secure Capital as WCNO Options Near Expiry
May 22, 2026
White Cliff Minerals has reminded holders of its listed WCNO options that these securities, exercisable at $0.0107 each, will expire at 5:00pm WST on 30 June 2026, with ASX quotation ceasing on 24 June 2026. Option holders may choose to exercise t...
White Cliff Extends Copper Footprint at Rae Project as Danvers Drilling Hits Thick Sulphide Zones
May 3, 2026
White Cliff Minerals has reported further copper sulphide discoveries from regional expansion drilling at the Danvers area of its Rae Copper Project in Nunavut, extending visually observed mineralisation at Danvers South to more than 1.8 kilometre...
White Cliff Minerals Shares to Resume Trading After ASX Suspension Lifted
May 1, 2026
White Cliff Minerals has regained compliance with ASX reporting rules after lodging its quarterly activity report, clearing the way for its securities to resume trading. The ASX has confirmed that the suspension of WCN shares will be lifted at the...
ASX Suspends White Cliff Minerals for Late Periodic Report
Apr 30, 2026
The ASX has suspended trading in the securities of White Cliff Minerals Limited, along with several other listed entities, because they failed to lodge their required periodic reports by the prescribed due date. Under ASX rules, White Cliff Minera...
White Cliff sharpens focus on Rae copper-silver project with drilling push and asset sale
Apr 30, 2026
White Cliff Minerals has advanced its Rae Copper-Silver Project with the restart of the remote camp, mobilisation of supplies, and the commencement of reverse circulation drilling at the Danvers prospect targeting extensions along the 8–10 k...
White Cliff Minerals Plans In Specie Return of Capital to Shareholders
Apr 29, 2026
White Cliff Minerals has lodged an updated Appendix 3A.5 notifying the ASX of a return of capital to shareholders via an in specie distribution of securities in another entity. The distribution will apply to holders of WCN ordinary shares, is not ...
White Cliff Minerals Shareholders Back Capital Return and Director Incentives
Apr 28, 2026
White Cliff Minerals has reported the outcomes of its latest general meeting, where shareholders voted on key corporate resolutions in line with Australian corporate and listing requirements. The company disclosed detailed proxy and poll results, ...
White Cliff Maps Extensive Copper Sulphides at Nunavut’s Danvers Prospect
Apr 27, 2026
White Cliff Minerals has reported encouraging early results from its 2026 reverse circulation drilling campaign at the Rae Copper Project’s Danvers area in Nunavut, where all five initial holes over more than 1,200 metres intersected visual ...
White Cliff Investors Offered Priority in Hydrocarbon Dynamics IPO for Great Bear Project
Apr 16, 2026
Hydrocarbon Dynamics Ltd, which plans to be renamed Great Bear Exploration Ltd, is proceeding with the acquisition of the Great Bear Project from White Cliff Minerals Ltd and has lodged an IPO prospectus with the Australian regulator. The offer se...
White Cliff director converts performance rights into ordinary shares
Apr 14, 2026
White Cliff Minerals has disclosed a change in the holdings of director Eric Sondergaard, who has rebalanced his equity exposure to the company. The update, lodged with the ASX, reflects adjustments within his mix of ordinary shares, performance r...
White Cliff Director Converts Performance Rights Into Shares
Apr 14, 2026
White Cliff Minerals has disclosed a change in director Troy Whittaker’s indirect interests following the conversion of incentive securities. Whittaker converted 25 million Class N performance rights into 25 million ordinary shares, increasi...
White Cliff Minerals Issues 75 Million Shares on Conversion of Performance Rights
Apr 14, 2026
White Cliff Minerals Limited has issued 75,000,000 ordinary shares following the conversion of an equivalent number of vested Class N Performance Rights, enlarging its share capital base. The company confirmed that these shares were issued without...
White Cliff Minerals Seeks Quotation for 75 Million New Shares
Apr 14, 2026
White Cliff Minerals has applied to the ASX for quotation of 75,000,000 new fully paid ordinary shares, to be issued on 14 April 2026 under the code WCN. The enlarged pool of quoted securities is expected to enhance the company’s capital bas...
White Cliff Metallurgy De-risks Danvers Copper Project with High Recoveries
Apr 7, 2026
White Cliff Minerals has reported strong metallurgical test results from the Danvers deposit at its Rae Copper Project in Nunavut, confirming that conventional flotation can deliver copper recoveries above 90% and up to 95.4%, and silver recoverie...
White Cliff Minerals to Return Capital via In Specie Distribution
Mar 27, 2026
White Cliff Minerals Limited has notified the ASX of a return of capital to shareholders via an in specie distribution of securities in another entity, applying to its ordinary shares. The distribution involves securities in an entity that is, or ...
White Cliff Minerals Plans In-Specie Distribution of HCD Shares to Investors
Mar 27, 2026
White Cliff Minerals Limited has released a short form prospectus detailing an in-specie distribution of 165,125,204 shares in HCD to its eligible shareholders, on a pro-rata basis of one new HCD share for every 15.6 White Cliff shares held as at ...
White Cliff Minerals Calls General Meeting on Capital Return and Director Incentives
Mar 27, 2026
White Cliff Minerals has called a general meeting of shareholders in Perth on 28 April 2026, setting a record date of 26 April 2026 for voting eligibility. The meeting will consider key corporate actions as outlined in an accompanying explanatory ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.