Unico Silver (USL), an ASX-listed company focused on building a world-class silver portfolio in Santa Cruz, Argentina, has released its quarterly report for the period ending 31 December 2025. The report highlights a period of accelerated growth and significant de-risking of the Joaquin project. This progress was underpinned by exceptional drill results, the transition to pre-feasibility study (PFS) level assessments, and a substantially strengthened balance sheet following a $40 million institutional placement and upsized Share Purchase Plan.
The company’s PLUS 150 and BEYOND 300 strategies saw advancement through rapid resource conversion, district-scale exploration success, and the commencement of PFS workstreams. Key highlights from the December quarter include exceptional infill and extensional drill results at Joaquin, which confirmed wide, shallow oxide silver-gold mineralisation suitable for open pit development. Drilling at La Negra SE expanded mineralisation to approximately 850m strike and 175m vertical extent, remaining open to the southeast and at depth. High-grade near-surface intercepts at La Morocha and La Morocha SE confirmed multiple parallel oxide zones and strong continuity.
Unico Silver has decided to proceed directly to a PFS Mineral Resource Estimate covering La Negra, La Negra SE, and La Morocha. During the quarter, the company had four drill rigs operational, with plans to expand to five, to accelerate infill drilling and indicated resource conversion. A $40 million institutional placement was completed with strong support from domestic and offshore investors, alongside an upsized Share Purchase Plan (SPP) which raised $10.3 million. This combined Placement and SPP raised approximately $50 million before costs.
Managing Director Todd Williams stated that the December quarter represents a pivotal inflection point for Unico Silver. With drilling capacity increased, feasibility workstreams underway, and a significantly strengthened balance sheet, Joaquin is rapidly transitioning from exploration to development. The company ended the quarter with a robust cash balance of approximately $66 million. This positions Unico to deliver high-confidence resources, progress RIGI qualification, and accelerate the PLUS 150 and BEYOND 300 growth strategies.
