White Cliff Minerals Launches $8.77M Placement with Hancock Prospecting [VIDEO]
Hancock Prospecting has taken a 13.5% strategic stake in White Cliff Minerals, injecting $8.77 million to accelerate drilling at the Rae Copper Project in Nunavut — one of the most high-grade early-stage copper discoveries currently active on the ASX.
Key Takeaways
- Hancock Prospecting — Australia's largest private company — is subscribing for 515,791,601 WCN shares at $0.017 each, raising A$8,768,457 and securing a ~13.5% post-completion stake in White Cliff Minerals.
- The entire capital raise is directed at expanding drilling across the White Cliff Minerals Rae Copper Project in Nunavut, Canada, across five defined focus areas including Danvers 1, 2 and 3, sediment-hosted copper targets, and regional follow-up at Thor, Rocket, Vision and Stark.
- Drill results to date include standout intercepts of 175m @ 2.5% Cu, 90m @ 4% Cu, and 20m @ 6.64% Cu, with the sediment-hosted footprint now interpreted at approximately 6.3km² and mineralisation extended 3.7km east of the 2025 reference hole.
- Shareholder approval under ASX Listing Rule 10.11 is required at an EGM expected on or about 19 October 2026, with completion to follow within 3 business days of approval.
- Hancock's investment is a commercial due-diligence-backed decision from a privately held company with no incentive to invest for market profile — making it a meaningful third-party validation of the Rae project's quality and scale.
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