Andean Announces Successful A$40 Million Raising

Key points

• Andean raises A$40 million through a Placement at A$2.45 per share
• Proceeds to fund drilling, resource upgrade, and production restart activities
• Andean to deliver Scoping Study in early CY27 and Feasibility Study by end CY27

Full summary

Andean Silver Limited has successfully raised A$40 million through a Placement at A$2.45 per share, representing a 13.7% discount to the last closing price. The proceeds will be used to accelerate production restart activities, upgrade the current mineral resources, and conduct a Scoping Study to be delivered in early CY27. The company also plans to complete a Feasibility Study by the end of CY27, aiming to demonstrate the production and cash flow potential of Cerro Bayo.