SVL
Lead Manager
Offer Price
A$0.0920
per share
Offer Size
A$20,000,000
Issue Price (Per Share)
A$0.0920
Discount
-13.58%
Offer Size
A$20,000,000
Shares Available
217,391,304
Silver Mines Limited (SVL or the Company) is completing a A$20 million placement (Placement), with the ability to accept oversubscriptions.
The Offer Price of A$0.092 per share represents a 20.0% to the last close, a 9.6% discount to the 5-day VWAP and a 7.9% discount to the 10-day VWAP.
Placement participants will also receive 1 new unlisted option for every 3 shares subscribed under the Placement with an exercise price of A$0.1196 and expiry 18 months from issue (New Options).
Silver Mines Limited is an Australian-based exploration and development company, with the Bowdens Silver Project as its flagship asset. This project is recognised as the largest known undeveloped silver resource in Australia and one of the largest globally. Located near Mudgee in the Central Tablelands Region of New South Wales, Australia, the Bowdens Silver Project spans 2,115 square kilometres (521,000 acres) and includes approximately 80 kilometres of strike within the highly prospective Carboniferous Rylstone Volcanics overlaying Ordovician and Silurian formations.
The company's strategy focuses on responsibly discovering and developing its projects to generate value for shareholders, local communities, and all stakeholders. Silver Mines Limited is committed to adhering to leading practices in sustainability and environmental stewardship.
Offer Close
4pm ADST, 6th December 2024
Placement Settlement Date
16 December 2024
Placement Allotment Date
17 December 2024
Non-Executive Chairman
Mr Perrett has had a long involvement in agriculture as a producer and industry leader at local, state, national and international levels. He was formerly Chairman of the Grains Research and Development Corporation (GRDC), the National Rural Advisory Council (NRAC), the Wheat Research Foundation, and President of the Grains Council of Australia. Mr Perrett is Chairman of Acumentis Group Limited (Director since February 2018).
Managing Director
Mr Battershill graduated with a Bachelor of Engineering (Geology) degree (Hons) from the Camborne School of Mines, United Kingdom in 1995. His career spans over 20 years in mining, business development and finance both in Australia and internationally. His industry experience includes senior operational and business development roles with WMC Resources Limited as well as significant stockbroking experience at Hartleys, Citigroup and UBS both in Sydney and London. Mr Battershill was consistently voted one of the leading mining analysts in Australia between 2009 and 2015 by institutional investors.
Non-Executive Director
Ms Podagiel has a distinguished legal background and over the past 20 years has worked as a commercial lawyer on major projects and developments including those in the mineral resources, technology, agriculture, energy and defence industries. Ms Podagiel has extensive senior executive-level experience including her prior role as CEO and Managing Partner of McCullough Robertson, a leading Australian independent law firm.
Ms Podagiel is a current director of ADG Capital Pty Ltd and is the founding director of UNIQ You Ltd, a charity supporting women in mining and STEM related areas. Ms Podagiel has recently completed her term as the Interim CEO of Women’s Legal Service Queensland providing free legal and social work to women.
Non-Executive Director
Mr Dennis is a mining engineer with 50 years’ experience in the nickel, copper, gold and alumina industries. Rob is a skilled leader and has extensive base metals and precious metals operational, technical and project development experience.
Mr Dennis’ past experience includes Chief Executive Officer and Managing Director of Poseidon Nickel Limited, Chief Operating Officer for the Independence Group (“IGO”) where he was responsible IGO’s nickel, copper, zinc and gold operations including overseeing the development and commissioning of IGO’s Nova Nickel Project.
Prior to that, Mr Dennis held positions including Chief Executive Officer at Aditya Birla Minerals Ltd where he managed the expansion and development of the Nifty Copper Project in the North West of Western Australia and the Mt Gordon operation in North Queensland, General Manager Project Development for Lionore Australia, General Manager Operations for Great Central Mines and Chief Mining Engineer for Western Mining Corporation.
Company Secretary
Mr Franklin holds qualifications in Finance, Financial Planning and Insurance Broking. He has a Bachelor of Science (Geology/ Geophysics) from the University of Sydney, and he is a Graduate of the Australia Institute of Company Directors.
He is currently the Managing Director of Enrizen Financial Group and Chairman of Gateway Mining Limited. Mr Franklin is formerly a director of the Australian Olympic Committee Inc and Australian Water Polo Inc. He is also a Fellow of the Australian Institute of Company Directors.
Disclaimer
This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Silver Mines Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.
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