Next Investors logo grey

Cartesian provides continued financial support for White Rock


Published 01-MAR-2017 15:09 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Just prior to the market closing on Tuesday, White Rock Minerals (ASX:WRM) advised that Cartesian Royalty Holdings (CRH) had subscribed for a $500,000 equity placement under Tranche 2 of its subscription agreement.

The equity placement is in connection with a two phase conditional financing package to assist WRM in developing its northern New South Wales Mt Carrington gold/silver project through to full commercial production.

An affiliate of the US-based Cartesian Capital Group, CRH’s continued support for WRM is not only a positive factor from a financial perspective, but it is also an endorsement of the group’s belief in the Mt Carrington project.

Albeit, this is an early stage play and investors considering this stock for their portfolio should seek professional financial advice.

On this note WRM chief executive, Matt Gill said, “White Rock welcomes the continuing support from its strategic partner, Cartesian Royalty Holdings, which shares the vision to develop the Mt Carrington gold and silver project in northern New South Wales to its full potential”.

The initial financing package which was negotiated in June 2016 involved a proposal to assist the advancement of the Mt Carrington project through feasibility and permitting, and then move directly into construction, commissioning and commercial production, subject to the delivery of a successful Definitive Feasibility Study (DFS) and associated approvals.

WRM’s shares surged nearly 30% at the start of February, but as the S&P/ASX 200 Gold Index (XGD) came off in recent weeks so did WRM’s share price.

However, the company is more of a medium-term story that is likely to benefit from upcoming milestones such as the DFS as it moves towards construction.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.