Argent Minerals Limited (ASX: ARD), an Australian-focused silver and precious metals developer, has announced it will raise $4.85 million before costs through a placement to sophisticated and professional investors. The placement, priced at $0.021 per share, was oversubscribed, reflecting strong investor confidence in Argent’s strategy to advance its Kempfield Silver-Polymetallic Project in New South Wales towards a staged development. The issue price represents a 12.5% discount to the last closing price of $0.024 on 2 September 2025. GBA Capital and ORA Capital acted as Joint Lead Managers to the Placement.
The raised capital will primarily be used to accelerate drilling and exploration activities at the Kempfield Project, which is Australia’s second-largest undeveloped silver deposit, and the West Wyalong Copper-Gold Project in NSW. Argent plans to use the funds to commence pre-development studies at Kempfield, initiate a maiden gold drilling program at Trunkey Creek, and continue diamond drilling to delineate the vertical extent of the VMS system across Lodes 100 and 200. Additionally, funds will support ongoing diamond drilling at Kempfield NW, Henry’s, and Gold Wattle Prospects, along with further exploration activities across regional targets within the Kempfield Project, and gold exploration over known orogenic gold occurrences at the West Wyalong Project.
Argent Managing Director Pedro Kastellorizos expressed his delight with the strong investor support, noting it marks a crucial step in advancing the Kempfield Project towards development. He stated the funds would enable Argent to commence drilling programs aimed at unlocking further growth opportunities at Kempfield and across the company’s broader gold-copper portfolio. At Kempfield, the resource remains open both at depth and along strike, with recent drilling and geophysical surveys highlighting significant potential for extension.
The placement involves the issue of 230,952,381 new fully paid ordinary shares, issued under Argent’s existing ASX Listing Rule 7.1 and 7.1A placement capacity. Settlement of the new shares is scheduled for 10 September 2025, with allotment occurring on 11 September 2025. Argent Minerals Limited is focused on developing its 100%-owned Kempfield Project in New South Wales, which hosts a resource of 63.7 million tonnes at 69.75 g/t silver equivalent for 142.8 million ounces of silver equivalent.
