Capital Raise to continue our aggressive exploration program at the Woods Point Gold Project, Victoria
This week we launched a capital raising to allow us to continue with our aggressive exploration program at our Woods Point Gold Project in Victoria.
This raising is made up of a $2M Private Placement (done) and a follow-on $9M Entitlement Offer (Rights Issue) to all our shareholders as at the ex date being this Friday.
You will recall that we acquired this asset, with 660km2 of under-explored Victorian goldfields, and a functioning gold mine and processing facility, in late August this year.
Within two months of getting the keys, we mobilized and currently have two drill rigs turning at the Morning Star Gold Mine (past production of 883,000 ounces of gold at 26.5g/t).
This capital raising is to allow us to continue this drilling campaign and to commence the very exciting regional exploration program we see ahead of us in 2022.
I gave an interview to provide some further background to this capital raising.
Link to an interview where I discuss the Capital Raising and why
We announced the Capital Raising via the ASX and also the Entitlement Offer. These documents are also on our website.
Each White Rock shareholder will get their own Entitlement Offer document and form - this will be posted on the 14th of December. This Offer to shareholders will remain open until the 14th of January.
However, many shareholders may have their shares held under a Nominee or by a broker. If this is the case, and due to Christmas and COVID, you may not receive your own copy in the mail in time as it will go to the address on the share certificate.
We will be putting out an Announcement next week via the ASX to allow you to ask for an electronic version of your own Entitlement Offer if you wish to.
Alternatively, you can respond to this email now, or via [email protected], requesting an electronic copy and we will add you to the list and then email you next week.
Announcement - Placement & Entitlement Offer to Raise $11M
We also released an updated investor Presentation describing what we are doing and our plans with this funding.
Updated Investor Presentation
I hope you can see the opportunities here and consider this capital raising in your investment decision-making.
If I do not get a chance to talk to you beforehand, I wish you a safe, restful and happy Christmas period.
Thanks and regards,
Matt
