And the Saga goes on and on and on. As long as salaries are...

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SilverRoo

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29/03/19

14:58

Post #: 37930022
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Originally posted by bevter: ↑

Down to 5c? Good deal for mates?
Silver Mines Limited (ASX:SVL) (“Silver Mines” or “the Company”) is pleased to advise that it has
successfully completed a capital raising of A$3.0 million (before costs) (“Placement”) to institutional,
professional and sophisticated investors.
Patersons Securities Limited acted as Lead Manager to the Placement.
The Placement was fully subscribed and conducted at an issue price of $0.05 per share, with
participants receiving one SVLOB option ($0.06 exercise price, expiry 6 September 2021) for every
two shares for which they subscribed. The Placement will result in the issue of 60,000,000 shares and
30,000,000 options, which will be issued using the Company’s capacity under ASX Listing Rule 7.1.
The funds raised under the Placement will be primarily used for funding exploration at the Barabolar
Project, the completion of the Environmental Impact Statement for the Bowdens Silver Project and for
general working capital purposes.
The Placement saw the introduction of new institutional shareholders and was well supported by
existing shareholders including Managing Director of the Company Mr Anthony McClure who has
committed to subscribe for A$150,000 under the Placement, with such participation to be subject to
shareholder approval in accordance with ASX Listing Rule 10.11.
A 2,800 metre drilling program is scheduled to commence next week at the high priority Cringle Gold
Prospect within the wider Barabolar Project. Recent work has highlighted an 800 metre strike length
of high-grade gold and silver in outcrop at up to 5.9 g/t gold and 107 g/t silver (refer to release dated
20 March 2019). Two other significant anomalies identified to the north of these structures are
currently being mapped and sampled.
Silver Mines will also conduct further works on the recently identified high grade gold targets at Tuena
(refer to release dated 26 March 2019) where historical production recorded from the area such as at
the Lucky Hit Mine, produced at grades averaging over 60 g/t gold.
Settlement of the Placement is expected to take place on 4 April 2019.
The Company requests that the halt on trading in its securities be lifted with immediate effect

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And the Saga goes on and on and on. As long as salaries are covered is the name of the game.

SVL Price at posting: 5.5¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 15.5¢		Change -0.005(3.13%)		Mkt cap ! $233.7M

Open	High	Low	Value	Volume
15.5¢	16.0¢	15.0¢	$517.4K	3.378M

Buyers (Bids)

No.	Vol.	Price($)
50	1265604	15.0¢

Sellers (Offers)

Price($)	Vol.	No.
15.5¢	453960	4

View Market Depth

No.	Vol.	Price($)
50	1265604	0.150
24	1273594	0.145
25	982924	0.140
23	1002943	0.135
18	403370	0.130

Price($)	Vol.	No.
0.155	453960	4
0.160	490499	7
0.165	879736	12
0.170	634057	10
0.175	976201	8

Last trade - 16.10pm 26/06/2024 (20 minute delay)

SVL (ASX) Chart

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