Silver Mines Limited (AU:SVL) has released an update.
Silver Mines Limited has successfully secured a substantial A$30.2 million in funding through convertible debentures with investment firms Bromma Asset Management Inc., Rick Rule, and MMCAP. This strategic financial move, featuring a conversion price at a premium to the recent trading price, aims to minimize shareholder dilution while advancing the company’s Bowdens Silver Project. The funds will primarily support drilling, feasibility studies, pre-construction activities, and general administrative costs.
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