$6M Placement to Accelerate Elizabeth Hill Exploration

Key points

• Oversubscribed $6M Placement to accelerate exploration at Elizabeth Hill
• Admiralty Resource Fund invests $500,000
• Funds to be used for drilling, testwork, and resource estimates

Full summary

West Coast Silver Limited (ASX: WCE) has successfully raised $6 million through a placement to institutional, sophisticated, and professional investors. The placement, led by CPS Capital Group Pty Ltd, was priced at $0.095 per share, representing a 13.8% discount to the 15-day volume weighted average price. The funds will be used for exploration and development drilling, geotechnical and metallurgical testwork, mineral resource estimate updating, and a scoping study. The placement was oversubscribed, with significant support from both new and existing investors, including Admiralty Resource Fund, which invested $500,000. The additional funds will accelerate exploration programs at Elizabeth Hill South and West, aiming to identify new deposits.