Capital to fund aggressive drilling and key milestones including JORC resource upgrades and Scoping Study. Silver projects located in Santa Cruz province.
By Panorama Minero
Unico Silver Limited announced the Company has received A$25 million of firm commitments for a placement of new fully paid ordinary shares to domestic and offshore institutional and sophisticated investors.
Highlights include:
Firm commitments to raise A$25 million (before costs) via a single-tranche placement at A$0.35 per New Share
Strong transaction support from a broad range of domestic and offshore institutions including key North American based cornerstone investors.
Proceeds from the Placement will be applied to:
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Accelerating exploration and resource growth through an extensive drilling program of an additional 30,000m (RC and diamond) at the Cerro Leon and Joaquin projects.
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Updating Mineral Resource Estimate (MRE) in late September 2025 and Q4 2025 (incorporating the results of the current planned drill program).
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Publishing a Maiden Scoping Study; and
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General working capital
Managing Director Todd Williams commented:
“This financing significantly de-risks our development pathway by strengthening the balance sheet and enabling us to aggressively ramp up drilling ahead of two pivotal Mineral Resource updates.
We’re now able to immediately recommence drilling in early September, with over 30,000 metres planned across Joaquin and Cerro Leon. These programs will target both new discoveries and near-resource growth as we progress toward our PLUS 150 development strategy — aiming to define 150 million ounces of pit-constrained, free-milling silver equivalent as the foundation for our maiden Scoping Study.
The next Mineral Resource Estimate, due late September, will incorporate results from Cerro Leon and the most recent discoveries at Joaquin, including the exciting step-outs at La Negra SE and La Morocha SE.
On behalf of the Board, I welcome our new institutional investors and thank our loyal shareholders for their continued support, as we strengthen the share register and transition from discovery to development”.
