Silver Mines Limited has received firm commitments for a two-tranche placement of $70 million before costs to institutional and sophisticated investors. The company said demand exceeded the amount raised.
The placement is priced at $0.145 per share and is expected to result in the issue of 482,758,621 fully paid ordinary shares. Silver Mines said the offer price represented a 10% discount to the five-trading-day volume-weighted average price to 18 September 2026.
Silver Mines said net proceeds are intended principally for Bowdens Silver Project development consent approvals and engineering studies, consideration for the Fitzroy and Asia Metals royalty acquisitions, community and land-access activities, exploration, business-development opportunities and working capital.
The second tranche and director placement shares require shareholder approval. Silver Mines has indicated a shareholder meeting on 26 November 2026, with settlement and allotment of those shares scheduled for 2 and 3 December respectively, subject to change.
Source: Download SVL official ASX announcement, 2026-09-23.
Silver Mines Limited announcement page, dated 23 September 2026.