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Unico Silver Limited (ASX:USL)

ALERT: Price-sensitive ASX Announcement for USL
Current share price for USL : $0.585 -0.1 (-14.60%)+
Announcement
Release
24 Apr 2026 9:33AM
Price at Release
$0.685
Full Release
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Summary
Unico Silver Limited's March 2026 Quarterly Report highlights strategic advancements, including board appointments and the launch of a Long-Term Incentive framework. The company commenced trading on the OTCQB Venture Market, enhancing access to North American investors. With a substantial cash balance of $62.7 million, Unico Silver focuses on significant exploration activities at its Argentine properties. The report details successful drilling results and ongoing feasibility studies at Joaquin and Cerro Leon, reinforcing the company's commitment to resource expansion and development options. The quarter also saw financial movements with $6.28 million raised from options exercises.
Key Points
  • Unico Silver Limited has strengthened its board, appointing Peter Holmes as Executive Director and Chair of the Technical Committee, and transitioning Peter Canterbury to Executive Director.
  • The company implemented a Long-Term Incentive (LTI) framework linked to key development milestones.
  • Unico Silver's shares started trading on the OTCQB Venture Market in the United States under the ticker USLRF.
  • The company reported a cash balance of $62.7 million at the end of the March 2026 quarter.
  • Exploration activities included drilling at Breccia Puntudo and La Negra SE, with notable mineralisation findings.
  • Unico Silver is advancing feasibility work at the Joaquin and Cerro Leon projects.
  • The company is focused on resource growth and development optionality with over 330Moz AgEq at the district level.
  • Net cash used in operating activities was reported at $145,000 for the quarter.
  • The company raised $6.28 million from the exercise of options during the quarter.
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.