White Cliff Minerals Ltd (ASX:WCN) has raised an additional $940,000 from the placement of shortfall shares following a rights issue, which was conducted at $0.002.
Shareholders have been rewarded with the stock most recently trading three times higher at $0.006.
The new funds will be allocated to exploration projects in the Kyrgyz Republic and Australia.
In the Kyrgyz Republic, White Cliff is advancing the 90%-owned Aucu gold deposit, which currently hosts an Inferred JORC Resource of 1.8 million tonnes at 5.2 g/t for 302,000 gold ounces.
Assays are pending.