White Cliff Minerals sinks most in 8 months on need for further exploration

White Cliff Minerals

11/01/2022 03:25

** Shares of White Cliff Minerals  WCN.AX  plunge as much as
32% to A$0.017, their worst session since May 6, 2021
    ** Mineral explorer says results received from its
Yinnetharra project, which is targeting lithium and rare earths,
indicate more detailed exploration required to target any
potentially important mineralisation  urn:newsml:reuters.com:*:nASX6lxlcL 
    ** Says preliminary review of high resolution satellite
imagery of the site indicate that a lot more sampling sites need
to be visited
    ** "Clearly, we have work to do, but no way should 14
samples be regarded as representative of >750sq km" - WCN
Technical Director Ed Mead 
    ** Nearly 24 mln shares have changed hands, over 4 times the
30-day average of about 5.4 mln shares 
    ** Stock hits its lowest level since Jan. 5 
    ** White Cliff stock lost 36% in 2021 

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))