Advance Metals’ $13M Placement Hinges on Shareholder Approval and Dual Listing Plans
Advance Metals has raised $13 million in a strongly supported placement led by global institutional investors, positioning the company to accelerate exploration across its high-grade silver and gold projects in Mexico and Victoria.
- Successful $13 million placement led by Jupiter Asset Management and Tribeca Investment Partners
- Funds to accelerate drilling at Guadalupe y Calvo, Yoquivo, and Gavilanes projects in Mexico
- Expanded drilling underway at Myrtleford Gold Project’s Happy Valley Prospect in Victoria
- Dual listing in North America planned to attract further offshore investment
- Placement structured in two tranches, with second tranche and options subject to shareholder approval
Strong Institutional Backing for Growth
Advance Metals Limited has successfully completed a $13 million capital raising, securing firm commitments from a mix of local and international precious metals-focused institutional investors. Notably, Jupiter Asset Management and Tribeca Investment Partners together accounted for half of the raise, underscoring strong confidence in Advance’s portfolio. Other key participants included Lowell Resources Fund, APAC Resources, and Next Investors, reflecting broad-based support across multiple regions.
Funding Exploration in High-Grade Silver and Gold Projects
The capital injection comes on the heels of Advance’s recent acquisition of the Guadalupe y Calvo Gold-Silver Project in Mexico, a transformative addition to its portfolio. The funds will enable an accelerated exploration program across this project and the nearby Yoquivo and Gavilanes silver projects, including a maiden diamond drilling campaign at Guadalupe y Calvo pending approvals. Concurrently, Advance is advancing its Myrtleford Gold Project in Victoria, where drilling has revealed a promising ultra-high grade gold zone at the Happy Valley Prospect. The company plans to expand drilling efforts both to extend known mineralisation and to test new regional targets.
Strategic Placement Structure and Market Expansion
The placement was executed in two tranches – the first tranche of approximately 65 million shares will be issued under existing placement capacity, while the second tranche and attaching unlisted options require shareholder approval. The shares are priced at $0.10 each, representing a modest premium to recent trading averages, signaling market confidence. Additionally, Advance is pursuing a dual listing in North America to tap into growing offshore investor interest, a move that could broaden its capital base and enhance liquidity.
Outlook and Management Commentary
Managing Director Dr Adam McKinnon expressed enthusiasm about the placement’s success and the quality of the company’s assets. He highlighted the global investor interest as validation of Advance’s strategy and the potential of its high-grade silver and gold projects. With the funds secured, the company is well-positioned to execute its aggressive exploration agenda, aiming to significantly expand its resource base in both Mexico and Australia.
Bottom Line?
Advance Metals’ fresh capital and global investor backing set the stage for a pivotal exploration phase, with market eyes now on drilling results and the upcoming shareholder vote.
Questions in the middle?
- Will shareholder approval for the second tranche and options be secured without delay?
- How will the planned North American dual listing impact Advance’s investor profile and share liquidity?
- What early results can be expected from the maiden drilling at Guadalupe y Calvo and expanded programs in Victoria?
