Mithril's strategic financial move

Mithril Silver and Gold (ASX:MTH) has successfully raised A$12.5 million through a Placement Offer. The funds will expand exploration at the Copalquin Gold-Silver Project in Mexico. The placement price was set at $0.50 per share, with strong backing from existing and new investors.

Overview of Mithril's capital raising and exploration plans

Mithril Silver and Gold has effectively secured A$12.5 million to enhance its exploration initiatives at the Copalquin District in Mexico. The capital injection will allow the company to expand its drilling operations significantly, targeting a total of 40,000 meters in 2025. Key shareholders such as Jupiter Gold and Silver Fund have increased their holdings, demonstrating strong investor confidence. The funds will also support infrastructure improvements and resource development, positioning Mithril to further its ambition of establishing the Copalquin District as a leading gold-silver mining area. The company's strategic focus remains on increasing its gold equivalent resources and unlocking the full potential of this prolific region.

Executive commentary on funding and exploration

The new capital will enable Mithril to significantly expand its exploration activities, with plans to quadruple the drilling meters in 2025 to a target of 40,000 meters. This is aimed at expanding the current gold equivalent resource at the Target 1 area and preparing additional targets for exploration.