Silver Mines Invites Shareholders to Boost Holdings at 16.3% Discount

Silver Mines Launches Share Purchase Plan

Silver Mines Limited (ASX – SVL) has officially opened its Share Purchase Plan (SPP), aiming to raise up to A$3 million by inviting eligible shareholders in Australia and New Zealand to purchase additional shares. The offer, which commenced on 13 August 2025, allows shareholders to acquire shares at an issue price of A$0.12 each, representing a 16.3% discount to the five-day volume weighted average price (VWAP) prior to the announcement.

Offer Details and Participation

Eligible shareholders, defined as those registered with an Australian or New Zealand address as of 7 – 00pm (AEST) on 4 August 2025, can apply for parcels ranging from A$1,000 up to a maximum of A$30,000 worth of shares without incurring brokerage or transaction fees. The SPP is voluntary and non-underwritten, with the company reserving the right to scale back applications if demand exceeds the targeted raise.

Strategic Use of Funds

The capital raised through this SPP, alongside proceeds from a recent A$30 million placement announced on 5 August 2025, will primarily support the advancement of the Bowdens Silver Project’s development consent approvals and engineering studies. Additionally, funds will be allocated to ongoing community and land access agreements, exploration activities across the Calico North and Kramer Hills projects in the United States, and Silver Mines’ New South Wales projects including Bara Creek and Tuena. Corporate and general working capital needs will also be met from the proceeds.

Process and Timetable

The SPP offer opened on 13 August 2025 and is scheduled to close at 5 – 00pm (AEST) on 27 August 2025, although the company retains discretion to extend or close the offer earlier. Shareholders can apply and make payments via BPAY or electronic funds transfer, with personalised application forms and detailed instructions provided. New shares issued under the plan will rank equally with existing shares and are expected to be quoted on the ASX shortly after issuance.

Market and Shareholder Implications

This capital raising initiative follows Silver Mines’ recent placement and reflects the company’s ongoing commitment to funding its development pipeline while providing shareholders with a discounted opportunity to increase their holdings. However, the non-underwritten nature of the SPP means subscription levels and any scale-back remain uncertain until the offer closes. Shareholders should consider market price fluctuations and seek professional advice before participating.