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Exploration|Projects|Drilling
Exploration|Projects|Drilling
exploration|projects|drilling

Aus firm raises A$25m for Argentina silver projects

20th August 2025

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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ASX-listed Unico Silver has raised A$25-million through a placement to institutional and sophisticated investors, positioning the company to accelerate exploration and development at its silver projects in Argentina.

The single-tranche placement of about 71.4-million new shares was priced at A$0.35 a share, representing a 10.3% discount to Unico’s last closing price on August 15.

Unico said on Wednesday that the financing would allow for an additional 30 000 m of drilling across the Cerro Leon and Joaquin projects, with updated mineral resource estimates (MREs) expected in late September and the December quarter, and a maiden scoping study to follow.

“This financing significantly de-risks our development pathway by strengthening the balance sheet and enabling us to aggressively ramp up drilling ahead of two pivotal mineral resource updates," said MD Todd Williams.

“We are now able to immediately recommence drilling in early September, with over 30 000 m planned across Joaquin and Cerro Leon. These programmes will target both new discoveries and near-resource growth as we progress toward our PLUS 150 development strategy – aiming to define 150-million ounces of pit-constrained, free-milling silver equivalent as the foundation for our maiden scoping study.

“The next MRE, due late September, will incorporate results from Cerro Leon and the most recent discoveries at Joaquin, including the exciting step-outs at La Negra SE and La Morocha SE.

“On behalf of the board, I welcome our new institutional investors and thank our loyal shareholders for their continued support, as we strengthen the share register and transition from discovery to development.”*

Settlement of the new shares is scheduled for August 26, with allotment on August 27.

Edited by Creamer Media Reporter

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