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3 stories mentioning ASX:SVL

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Asia

Silver Mines Enters Into Option Underwriting Agreement; Shares Down 4%

Silver Mines (ASX:SVL) entered into an option underwriting agreement with Petra Capital to fully underwrite the exercise of unlisted options, exercisable at AU$0.1196 apiece and expiring on June 17, according to a Friday filing with the Australian bourse.Petra Capital will underwrite up to 63.2 million options that remain unexercised at the expiry date, representing about AU$7.6 million, by subscribing for shares on the exercise of the underwritten options, the filing said.Upon completion of exercise of all options, the company expects to issue a total of 63.2 million shares to raise about AU$7.6 million, per the filing.Silver Mines shares fell nearly 4% in morning trade Friday.

ASX:SVL
Asia

Silver Mines Unit to Acquire Freehold Land Near New South Wales Project

Silver Mines' (ASX:SVL) Bowdens Silver subsidiary signed a binding contract to acquire a strategic parcel of freehold land near the Bowdens project in New South Wales for AU$12.5 million in cash, according to a Tuesday filing with the Australian bourse.The company will own about 3,345 hectares of freehold land upon completion of the transaction, the filing said.Settlement of most lots to be acquired will take place on July 24, per the filing.

ASX:SVL
Asia

Silver Mines Completes Field Mapping Program at California Project

Silver Mines (ASX:SVL) completed a field mapping program at the Calico North project in California, assessing along-strike variation in grade, as well as volume controls on higher grade portions, with 219 rock samples collected, and phase one drill planning is underway, according to a Thursday Australian bourse filing.Around 20% of the samples returned assays greater than 50 grams per tonne grade of silver, and 10% returned assays greater than 100 g/t grade of silver. The mapping and rock chip sampling program also confirmed the presence of barite, a designated critical mineral in the US.It also completed a field mapping program and an initial ground magnetic survey at the Kramer Hills project, also in California, confirming the location of the target structure to the west of the historic Shaherald pit.

ASX:SVL