Silver Mines Limited (ASX:SVL) is an Australian silver exploration and development company. Its flagship asset is the Bowdens Silver Project, recognised as the largest undeveloped silver deposit in Australia. The company today announced the successful completion of the acquisition and extinguishment of two private royalties over its Bowdens Silver Project, finalised on September 29, 2026. This consolidates ownership interests and simplifies the project’s royalty structure, involving an aggregate consideration of A$26 million, comprising A$18 million in cash and A$8 million in Silver Mines shares, issued at A$0.145 per share.
The buy-backs specifically targeted a 2% net smelter royalty (reducing to 1% after the first US$5 million revenue) held by Royalco Resources Pty Ltd, a subsidiary of Fitzroy River Corporation Ltd (ASX:FZR), and a 1% gross revenue royalty (commencing after 20 million ounces of silver produced) from Asia Metals 4 Pty Ltd. The Royalco royalty buy-back involved A$10 million cash and A$7.5 million in Silver Mines shares, while the Asia Metals royalty acquisition entailed A$8 million cash and A$500,000 in shares. This extinguishes future royalty obligations over tenement EL5920, directly increasing Silver Mines’ exposure to the project’s future production and economic benefits.
Silver Mines Managing Director, Jo Battershill, commented on the development, stating that the completion of the royalty buy-backs is a significant milestone for Bowdens and further simplifies its commercial structure. Mr Battershill emphasised this move completes an important piece of the project’s commercial consolidation, providing greater direct exposure to future economic returns. With the Definitive Feasibility Study complete, the company is now focused on the upcoming NSW Independent Planning Commission public hearing and advancing the project through its key approvals and development milestones.
