Advance Metals Limited (ASX: AVM) has announced the successful completion of a $13 million placement to fund accelerated exploration programs across its silver-gold portfolio in Mexico and gold projects in Victoria. Advance Metals is focused on the exploration and development of precious metals projects. The company’s portfolio includes high-grade silver and gold assets in Mexico and high-grade gold projects in Victoria, Australia.
The placement was strongly supported by local and offshore precious metals-focused funds, with cornerstone investments from Jupiter Asset Management and Tribeca Investment Partners, who received a combined allocation of $6.5 million. Other key institutional investors included Lowell Resources Fund, APAC Resources and Next Investors. The funds raised will facilitate an accelerated exploration work program across the company’s Mexican silver-gold project portfolio, including a maiden drilling program at the recently acquired Guadalupe y Calvo Project, and an expanded diamond drilling program at the Happy Valley Prospect area in Victoria.
The placement price was $0.10 per share, representing a 3% premium to the 5-day VWAP of $0.0973 and a 28% premium to the 20-day VWAP of $0.0784. The placement includes the issue of 34,779,261 new shares under Listing Rule 7.1 and 29,863,740 under listing rule 7.1A in tranche 1, and 65,356,999 new shares in tranche 2, subject to shareholder approval, along with attaching options. Given the recent offshore interest in Advance’s portfolio, the company is also pursuing a dual-listing in North America.
Managing Director Dr Adam McKinnon expressed his satisfaction with the placement’s support, highlighting the potential of the company’s silver and gold assets. He noted that the funding puts Advance in a strong position to rapidly grow its silver endowment in Mexico and expand its drilling campaign in Victoria. Shares in tranche 1 are expected to be issued on 13 October 2025, with tranche 2 shares following on 4 December 2025, subject to shareholder approval.
