Unico Silver Limited (ASX: USL), a company focused on building a world-class silver portfolio in Santa Cruz, Argentina, has announced a successful $25 million placement to accelerate the development of its silver projects. The placement, which saw strong support from both domestic and offshore institutional investors, will fund an aggressive drilling program and key milestones, including JORC resource upgrades and a maiden Scoping Study. Approximately 71.4 million new fully paid ordinary shares will be issued at $0.35 per share.
The raised capital will be primarily directed towards accelerating exploration and resource growth through an extensive 30,000-meter drilling program at the Cerro Leon and Joaquin projects. Unico Silver also intends to update the Mineral Resource Estimate (MRE) in late September 2025 and Q4 2025, incorporating the results of the planned drill program. Furthermore, the funds will enable the company to publish its maiden Scoping Study and provide general working capital.
Managing Director Todd Williams stated that the financing significantly de-risks the company’s development pathway by strengthening the balance sheet and allowing for an accelerated drilling program. Drilling is scheduled to recommence in early September, targeting both new discoveries and near-resource growth as the company progresses toward its PLUS 150 development strategy, which aims to define 150 million ounces of pit-constrained, free-milling silver equivalent. The placement price of $0.35 per New Share represents a 10.3% discount to the last closing price on 15 August 2025, which was $0.39.
The settlement of the New Shares is expected around 26 August 2025, with allotment on 27 August 2025. Canaccord Genuity (Australia) Limited acted as the sole Lead Manager and Bookrunner for the Placement, while SCP Resource Finance LP served as Co-Manager. Unico Silver holds a significant portfolio of exploration properties in Santa Cruz province, Argentina, a region known for its multi-million-ounce gold and silver epithermal vein deposits.
