He has purchased a further 500,000 shares at 0.4 cents each, taking his total acquisitions in March to 7 million.
READ: White Cliff Minerals directors continue to demonstrate confidence in company through on-market purchases
The chairman now has more than 61 million shares in the company, which is exploring battery metals and gold prospects in Western Australia and also has a gold project in the Kyrgyz Republic.
Managing director Todd Hibberd has also acquired two parcels of shares this month for a total of almost 5 million and he now holds more than 68.5 million shares.
1:6 rights issue
White Cliff is undertaking a 1:6 rights issue to raise up to $1.66 million with the issue underwritten up to the value of $1 million.
For each new share, the shareholders will also receive one free attaching option with an exercise price of 1 cent and an expiry date of June 30, 2019.
A prospectus has been sent to eligible shareholders and the closing date for acceptances is March 22, 2018.
The company has started an initial 3000-metre drilling program at its Coglia Well cobalt and nickel project in Western Australia’s Northeast Goldfields.
The program is aimed at verifying existing results and defining the grade and scale of cobalt and nickel mineralisation.