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Silver Mines Limited (ASX:SVL)

ALERT: Price-sensitive ASX Announcement for SVL
Current share price for SVL : $0.125 -0.04 (-24.24%)+
Announcement
Release
31 Oct 2025 8:16AM
Price at Release
$0.165
Full Release
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Summary
During the quarter ending 30 September 2025, Silver Mines Limited focused on advancing its Bowdens Silver Project in New South Wales, Australia, which remains the largest undeveloped silver deposit in the country. The company successfully raised $34 million through a placement to both existing and new shareholders, and a share purchase plan (SPP) that exceeded its target. This funding is allocated towards progressing development approvals, exploration, and potential acquisitions. The company concluded a strategic acquisition in California, securing the Calico North Project and the Kramer Hills Project, enhancing its project portfolio with exploration potential. No mining production was conducted, and the quarter ended with significant cash reserves of A$43.67 million. There remains a focus on obtaining development consent and mining lease approvals for their projects.
Key Points
  • Silver Mines Limited raised $34 million through placement and SPP.
  • Focus on Bowdens Silver Project, Australia's largest undeveloped silver deposit.
  • Acquired Calico North Project and began farm-in for Kramer Hills Project in California.
  • No mining production conducted during the quarter.
  • Ended quarter with cash reserves of A$43.67 million.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.