Silver Mines Limited (ASX:SVL) announced on 29 September 2026 the successful completion of the acquisition and extinguishment of two private royalties impacting its wholly owned Bowdens Silver Project. Silver Mines Limited is an Australian silver exploration and development company, with the Bowdens Silver Project in central New South Wales being its primary asset and recognised as Australia’s largest undeveloped silver deposit. These strategic buy-backs, valued at an aggregate consideration of A$26 million, are intended to simplify the project’s commercial structure and enhance the company’s direct exposure to future production and economic benefits.
The completed transactions involved two distinct royalty interests over tenement EL5920. Silver Mines’ subsidiary first acquired and extinguished a 2% net smelter royalty from Royalco Resources Pty Ltd (a subsidiary of Fitzroy River Corporation, ASX:FZR) for A$10 million in cash and A$7.5 million in Silver Mines shares. Secondly, the company acquired Asia Metals 4 Pty Ltd, which owned a 1% gross revenue royalty over the same tenement, for A$8 million in cash and A$500,000 in Silver Mines shares. All shares for the royalty buy-backs were issued at A$0.145 per share, utilising existing Listing Rule 7.1 capacity.
Silver Mines Managing Director, Jo Battershill, stated that the completion of the buy-backs is a “significant milestone for Bowdens and further simplifies the commercial structure of the Bowdens Project.” He noted that this crucial commercial consolidation provides Silver Mines with greater direct exposure to the project’s future economic returns. The removal of these royalty interests eliminates associated future obligations, positioning Bowdens more favourably for its next stage of development and advancing its approvals pathway, including an upcoming NSW Independent Planning Commission public hearing.
