WRM 0.00% 6.3¢ white rock minerals limited

Ann: Placement to Fully Fund Expanded 2021 Exploration in Alaska, page-12

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  1. 2,316 Posts.
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    Well I'm one of the investors who participated in the placement. The company was actually quite rigid in managing who received the placement compared to the usual process.

    The company stated that they were prioritising existing shareholders and new shareholders who were committed to holding their stock for a long period of time.

    To determine who met the above eligibility criteria, the company asked potential placement recipients to state whether they're existing holders and if not, to outline their reasoning behind their interest in WRM. Prospective investors had to write a detailed response with their reasoning.

    Personally, I'm here for the multi-rig drill program. I understand that retail shareholders feel let down with the raise but it isn't cheap to run three diamond rigs simultaneously in the Alaskan wilderness. Factor in all the other costs too, such as logistics, base camp, airborne geophysics, etc. The company needs resources to maximise the exploration season before the window closes.

    Quinton Hennigh is exuding confidence in the potential of a Pogo 2.0 discovery and to that degree, Crescat participated to avoid diluting their 10% holding. I'm willing to back him in region and geological terrain he knows exceptionally well to navigate (considering that he's personally designed the drill program).
 
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