- White Rock Minerals (WRM) begins the week in a trading halt in regards to an upcoming capital raising
- The company will remain in the halt until the earlier of May 4 or when an announcement with further information is released to the market
- On April 29, White Rock revealed it had encountered abundant visible gold from the Gap Zone within the Woods Point Gold Project in Victoria
- Hole 22GZL9013 was the first hole in the program to intersect significant visible gold and assays are pending and are expected to be reported on shortly
- Shares in White Rock last traded at 20 cents on April 29
White Rock Minerals (WRM) has begun the week in a trading halt in regards to an upcoming capital raising.
The company will remain in the halt until the earlier of May 4 or when an announcement with further information is released to the market.
White Rock is yet to disclose how much it intends to raise or what it will use the funds for once received.
On April 29, White Rock revealed it had encountered abundant visible gold from the Gap Zone within the Woods Point Gold Project in Victoria.
Hole 22GZL9013 was the first hole in the program to intersect significant visible gold and assays are pending and are expected to be reported on shortly.
White Rock last tapped investors for cash in December 2021 when it undertook an $11 million equity raising.
The equity raising consisted of a $2.25 million placement and a $9.1 million non-renounceable entitlement offer.
Under the placement, more than 9.37 million shares were issued to certain institutional and sophisticated investors at 24 cents.
In regards to the entitlement offer, eligible shareholders were able to subscribe for one new share for every four held.
White Rock used the money from the equity raising to undertake exploration activities at Woods Point and recapitalise the Morning Star gold mine and processing facility.
Shares in White Rock last traded at 20 cents on April 29.