Overview

As was advised two White Rock Minerals Limited subsidiaries have been placed into Liquidation.”

White Rock (MTC) Pty Ltd – This entity held interests in the Mount Carrington Project in NSW.

White Rock (MTC) Pty Ltd held the Mt Carrington Project until it surrendered its licences in May 2023. This came after its Joint Venture Partner, Thomson Resources Ltd withdrew from the Joint Venture effective 17 May 2023 and due to Mining, Exploration and Geoscience, Department of Regional NSW (“MEG”) rejecting a request to defer lodgement of an increase in the Rehabilitation Bond (“Bond”). The Bond for Mt Carrington was increased in 2021 from $968,000 to $6,881,466 with the increased amounts to be paid incrementally over the course of the following 3 years.

As advised in ASX Announcement dated 30 August 2023, Hall Chadwick Chartered Accountants had been appointed Investigating Accountant of the WRM Group. In conjunction with their review, White Rock (MTC) Pty Ltd was placed into Administration (refer ASX Announcement 3 October 2023), and a short time later was placed into Liquidation.

The Liquidator’s of White Rock (MTC) Pty Ltd have disclaimed the mining leases, and all the assets thereon, and while several notices have been received from MEG, we have received no further update on the status of the application to surrender the tenements.

Morningstar Gold NL – This entity held the Morningstar gold mining leases and related exploration leases around Woods Point in Victoria.

Further, and as advised in ASX Announcement dated 11 October 2023, upon receiving notification from the Rehabilitation Liability Assessments and Bonds section of the Earth Resources Regulator, Victoria increasing the Rehabilitation Bond on the Woods Point Gold Project from $153,000 to $16,346,000; Morning Star Gold NL was placed into Administration.

The Liquidators have disclaimed the mining leases that form part of the Woods Point Gold Project, and the Company has had it’s access to the Morningstar Gold Mine site withdrawn by the Earth Resources Regulator.

Any queries relating to White Rock (MTC) Pty Ltd or Morningstar Gold NL should be addressed to the Liquidators, Liam Bellamy and John Kukulovski, of RRI Advisory on enquiries@rriadvisory.com.au, or by phone on 1300 904 946.

White Rock Minerals retains exploration stage resources projects in Alaska, USA.