White Cliff Minerals Limited

• Market Wrap

White Cliff Minerals (WCN)

Hartleys Research maintains a “speculative buy” recommendation on White Cliff Minerals a gold and copper explorer that has cash of around $1.2 million that will cover planned exploration in 2014.

• Updated Sep 10, 2014
• Elise Shaw

• Market Wrap

White Cliff Minerals (WCN)

Hartleys Research has maintained a ‘speculative buy’ on White Cliff Minerals as it continues its exploration program at the Chanach copper-gold project in the Kyrgyz Republic.

• Updated Jun 10, 2014
• Elise Shaw

• Iron ore

Chinese appetite for nickel ore grows

Nickel ore imports to feed the ravenous Chinese economy are expected to have hit a record for the month of August and are likely to surge higher in the coming months due to robust demand and a drop in nickel pig production.

• Updated Sep 20, 2011
• Brendon Lau

Chanach yields results for White Cliff

Channel sampling at the Chanach gold-copper project has yielded results for White Cliff Nickel.

• Sep 27, 2010

• Market Wrap

Taking Stock

Margins squeezed

• Oct 22, 2008
• David Ciampa; Matthew Cranston; Ayesha de Kretser; Khia Mercer; Peter Wells

White Cliff Nickel (WCN)

White Cliff Nickel shares plunged 33 per cent on thin trading on Monday to just 3¢ after the company revealed it had signed a joint venture agreement with a Korean consortium.

• Oct 21, 2008
• Ayesha de Kretser

White Cliff Nickel lured into iron ore move

White Cliff Nickel (WCN) The nickel explorer has been tempted into the lucrative iron ore business, buying an exploration licence at one of the industry's most crowded but profitable addresses, Western Australia's iron-ore rich Pilbara district. Shares surged as much as 85 per cent to 18.5 cent on expectations that the new project, known as Trevarton Creek, some 130 km north-east of Karratha, is a prospective earner, intersecting as it does with Fortescue Metals Group's ore-bearing Robe Pisolite outcrop. The group has also applied for licences for three more tenements in the south-west Pilbara region. But despite its diversification into iron ore, the company said its main focus remained nickel exploration, where drilling continues at a range of sites in Western Australia, the most prospective of which are the licences it holds for areas not far from the massive Murrin Murrin and Mount Windara nickel mines. The company's other project, Causeway, consists of two licences 60 km north-west of Kalgoorlie and is also proximate to nickel giant Norilsk Nickel's Cawse laterite mine. Shares closed 3¢, or 30 per cent, higher at 13¢. Macmahon Holdings (MAH) It was a calmer session for both Macmahon and Ausdrill as the market digested Thursday's hostile scrip-based takeover offer for Ausdrill and the possibility of counterbids emerging. Macmahon rose another 3.5¢ or 2 per cent to $1.745 a share, while Ausdrill eked out a further 2.8 per cent gain on top of Thursday's 20 per cent surge, to close the session at $2.58, or 5¢ above the implied bid price of $2.53 per Ausdrill share. Macquarie analysts said the tie-up was a good strategic move - providing Macmahon with a presence in Africa and a new suite of services in drilling exploration - but offered no suggestion of whether they thought the bid would succeed or whether there was a likelihood of counterbids. The acquisition would also add scale to Macmahon's existing drill and blast and contract mining operations, which collectively represent about 50 per cent of Ausdrill's revenue, the broker said in a report. Ausdrill hasn't formally responded to the offer but is expected to tell shareholders to take no action. It is potentially courting other suitors - names like US-based drilling giants Layne Christensen and Major Drilling and Australian-listed Boart Longyear are in the frame as potential counterbidders. Hedley Gaming Leisure Property Fund (HLG) Shares in the property trust got a much-needed boost on Friday after investors took heart from its latest trading update. Confirmation that it was operating comfortably within its bank covenants but was "investigating ways to improve the flexibility of its balance sheet" went some way to reassuring those worried that the group was struggling under the weight of its highly geared balance sheet. Hedley owns a portfolio of pubs, bottle shops and other retail freeholds but said it planned to sell a small number of pubs that did not fit its strategic direction. Negotiations are at an advanced stage and are expected to realise a price of about $30 million for the group. Investors welcomed the news, and shares rallied 11 per cent to close the session at 85¢, up 7.6 per cent over the week.

• May 23, 2008
• Emily Parkinson