A summary from a few articles. All very positive and the outlook looks very bright.
1. Strategic and timely The placement coincided with a strong rally in global silver prices. Andean plans to use the proceeds to support drilling and feasibility studies at its flagship Cerro Bayo Project in Chile.
2. Institutional endorsement The offer was covered by “institutional and sophisticated” (mainly Northern Hemisphere) investors, with joint lead managers Canaccord Genuity, Euroz Hartleys, and SCP Resource Finance steering the placement.
3. Robust liquidity boost The raise brings Andean’s cash position to roughly A$42 million, providing significant funding for exploration, resource expansion, and mining restart studies.
Bottom line: The A$30 million placement is a positive capital-raising exercise. It’s well-timed, well-supported, and materially strengthens Andean’s ability to advance the Cerro Bayo project amid a favorable silver market. While there was a share price retreat post-announcement, that mainly reflects standard market dynamics for discounted placements—not investor concern about the company’s outlook.
GLTAH
ASL Price at posting:
$1.36 Sentiment: Buy Disclosure: Held
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