Market cap less than $5m. Cash $1.3m (end Dec, should last to mid year) $240k government co-funding JV Funding $1.75m (as of Sept 2011)
Several early stage Gold and Nickel Projects (some JV, some 100%).
The most exciting of which is their Chanach Gold-Copper project (45% ownership).
Drilling results (today) from JV Chanach project include:
o 180 metres at 0.2% copper and 0.15 g/t gold in fresh rock including; - 16 metres at 0.65% copper and 0.46 g/t gold within; - 34 metres at 0.40% copper and 0.26 g/t gold and; - 5 metres at 0.97% copper and 0.12 g/t gold - 3 metres at 0.46% copper and 0.69 g/t gold
o Peak copper value of 1m at 2.06% copper and 0.35 g/t gold
This company has been extremely efficient from a spending point of view, unlike many juniors they aren't raising capital every 5 minutes and have been able to keep dilution to a minimum as a result.
Their admin costs are low.
They have done well positioning themselves with partners and other funding sources so as to reduce their costs.
Another recent announcement:
"White Cliff Minerals has appointed Somerley to introduce potential strategic partners for White Cliff Minerals from the Greater China Region. Somerley will seek opportunities for White Cliff Minerals in the Greater China Region in relation to equity funding, corporate mergers and acquisitions and project funding for the Company’s individual nickel projects."
Give them a look -> ASX: WCN
They've moved 24% today already, but only a few shares transacted at the low point recently and is an illiquid stock, this is still dirt cheap for anything less than 15c IMHO.
