White Cliff Minerals [ASX:WCN]
Metals & Mining
High-Potential Maiden Drilling Campaign Underway
We update WCN with a revised Target Share Price $0.047, this represents a total upside potential of 147.3%, reflecting significant increase from the current share price of $0.019 and an 38.23% increase from our Target Share Price from our initiation report from June last year. WCN’s ongoing exploration at the Rae Copper Project has progressed meaningfully with the commencement of its maiden drilling campaign, which confirmed sulphide mineralisation across all completed holes at the Danvers prospect. The identification of outcropping copper 4.7km along strike further supports the scale potential of the broader mineralised system. With assay results now imminent, the project presents a near-term catalyst for potential re-rating, further enhancing its exploration profile and strengthening investor confidence in WCN’s strategy.
Refined Focus, Stronger Balance sheet
WCN recently completed the divestment of its Reedy South Gold Project for $1.2 million, aligning with its strategic decision to focus exclusively on its high-potential Canadian copper and uranium assets. The sale not only streamlines the company’s portfolio but also enhances its financial flexibility, with the proceeds directly contributing to an already strengthened cash position following the recent $5 million capital raise. This solid funding base enables WCN to confidently advance its drilling and exploration programs at the Rae Copper Project and Great Bear Uranium Project, without the immediate need for additional capital. The divestment reinforces the company’s commitment to unlocking value from its Canadian exploration portfolio and positions it for sustained progress through 2025.
Exceptional Early-Stage Results Highlight Tier-One Discovery Potential
WCN holds two highly prospective Canadian assets in regions with world-class geological potential. The Great Bear Project lies within an area recognised as Canada’s most favourable setting for IOCG-Uranium-Silver mineralisation, with maiden results including 42.6% Cu, 39.5% Cu, and 38.2 g/t Au at Phoenix, and 7.54% Ag and 5.35% Ag at Slider. Meanwhile, the Rae Cu-Ag Project hosts all key geological features of a sediment-hosted copper system, including a historic estimate of 4.16 Mt at 2.96% Cu. Early sampling has returned exceptional grades exceeding 60% Cu at multiple prospects across the Vision district, confirming the scale and high-grade nature of the mineralised system.
Strong Upside Potential as Copper and Uranium Outlook Strengthen
As White Cliff Minerals advances its Canadian copper and uranium portfolio, its current market capitalisation does not yet reflect the scale of its exploration potential or the strategic value of its assets. The bullish outlook for both copper and uranium—driven by accelerating electrification, decarbonisation efforts, and energy security concerns— provides a compelling macroeconomic backdrop for the company’s growth. With $5 million recently raised, White Cliff is well-funded to continue its maiden drilling campaign at the Rae Copper Project and progress early-stage exploration at the Great Bear Uranium Project. The identification of high-grade sulphide mineralisation at Danvers, and outcropping copper along strike, underscores the potential for future resource definition.