ASX:WEC

2 stories mentioning ASX:WECUpdated 9d ago

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White Energy Co Reports Copper-Gold-Silver Hydrothermal Vectors at Queensland Project; Shares Up 9%

White Energy Co (ASX:WEC) said its unit Amerod Resources completed an eight-hole reconnaissance diamond drilling program at the Specimen Hill Project in Queensland, with all holes displaying varying degrees of epidote, chlorite, and sericite alteration, according to a Thursday Australian bourse filing.The company said selective assay results from four drill holes identified multiple copper-gold-silver hydrothermal vectors and evidence of several mineralizing fluid pulses. Meanwhile, one hole intersected an iron-rich hydrothermally altered interval with a copper-silver-gold-bismuth-tellurium-selenium-arsenic-molybdenum-tungsten association, supporting further exploration in that area.One hole and nearby surface samples support the interpretation of a structurally controlled copper-silver-gold hydrothermal system associated with epidote-rich, calcic-altered volcanic and volcaniclastic rocks, the filing added.The company's shares rose almost 9% in recent Thursday trade.

ASX:WEC

Asia46d ago

White Energy Secures Up to AU$1 Million Loan Facility

White Energy (ASX:WEC) secured a loan facility of up to AU$1 million at the lender's discretion from Ilwella, a substantial shareholder and private company associated with Chairman Brian Flannery, according to an Australian bourse filing on Tuesday after market hours.The loan carries no conversion rights and must be repaid on demand or immediately upon the borrower receiving proceeds from any capital raise, per the filing.Interest is charged at 0.8% per month and increases to 1.2% per month if not paid by the due date, the filing said.The facility will fund due diligence expenses for the company's proposed acquisitions, along with general working capital ahead of a planned capital raise associated with those acquisitions, the filing added.

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