Argent Raises $4.85M at $0.021 to Boost Kempfield Drilling and Development

Capital Raise to Propel Kempfield Forward

Argent Minerals Limited (ASX – ARD) has successfully completed an oversubscribed placement, raising $4.85 million before costs to advance exploration and development at its flagship Kempfield Silver-Polymetallic Project in New South Wales. The placement, priced at $0.021 per share, attracted strong support from sophisticated and professional investors, underscoring confidence in Argent’s strategy to transition from explorer to developer.

Unlocking Australia’s Second Largest Undeveloped Silver Deposit

Kempfield is notable for hosting Australia’s second-largest undeveloped silver resource, boasting 63.7 million tonnes at 69.75 grams per tonne silver equivalent, equating to 142.8 million ounces of silver equivalent. This polymetallic deposit also contains significant quantities of gold, lead, and zinc, positioning Argent to capitalise on historically strong silver prices and the broader demand for precious metals.

Targeted Use of Funds for Exploration and Development

The proceeds from the placement will primarily fund accelerated drilling programs aimed at extending the resource at Kempfield, particularly testing promising north-west zones that remain open at depth and along strike. Additionally, Argent plans to commence pre-development studies to pave the way for early production, potentially via a heap leach starter operation.

Beyond Kempfield, the company will initiate maiden gold drilling at the Trunkey Creek prospect, targeting high-grade zones identified through rock-chip sampling. Exploration will also continue at other nearby prospects such as Kempfield NW, Henry’s, and Gold Wattle, following up on encouraging multi-metal intercepts from the 2024 campaign. The West Wyalong Copper-Gold Project will see renewed activity with drilling targeting orogenic gold and porphyry copper-gold systems.

Strategic Positioning in a Premier Mining District

Located near Orange in the prolific Lachlan Fold Belt, Kempfield benefits from proximity to some of Australia’s largest gold and copper mines, including Northparkes and Cadia. Argent’s broader portfolio, including Pine Ridge and Mt Dudley projects, offers additional gold upside and the potential to develop a scalable, multi-deposit mining operation.

Managing Director Pedro Kastellorizos highlighted the significance of the placement, stating it marks a pivotal step in advancing Kempfield towards production and unlocking growth opportunities across Argent’s gold-copper portfolio. The company’s methodical approach to exploration and development aims to capitalise on the polymetallic nature of its assets and the favourable market environment for silver and gold.

Next Steps and Market Implications

Settlement of the placement shares is scheduled for 10 September 2025, with allotment and quotation on 11 September. Joint Lead Managers GBA Capital and ORA Capital facilitated the placement, which was priced at a 12.5% discount to the last closing price, reflecting a balanced approach to raising capital while maintaining shareholder value.

As Argent progresses its drilling campaigns and pre-development studies, the market will be watching closely for results that could validate the resource expansion potential and underpin a transition to production. The company’s ability to deliver on these milestones will be critical in shaping its valuation and investor sentiment in the coming months.