Australia's White Cliff Minerals jumps after Rinehart's Hancock Prospecting buys stake

White Cliff Minerals

15/09/2026 01:30

** Shares of Australia's White Cliff Minerals WCN.AX rise as much as 26.5% to A$0.022, marking their biggest intraday pct gain since June 10
** Stock hits highest level since June 18 
** Mineral explorer says Hancock Prospecting, owned by Australia's richest person, Gina Rinehart, has agreed to subscribe to about 500 mln shares of co, representing 13.5% stake
** Says deal for A$8.8 million ($6.28 million) at A$0.017 per share (last close)
** About 57 mln shares change hands, 6.8x the 30-day average
** Stock last up 17.7% with YTD gains of over 22%
     
($1 = 1.4015 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))