Unico Silver's strategic capital raise

Unico Silver (ASX:USL) has successfully raised $22.5 million through a placement of new shares to institutional and sophisticated investors. The funds will accelerate exploration and resource growth at the Cerro Leon and Joaquin projects in Argentina. The placement aims to support an ambitious drilling program to enhance the company's mineral resource estimate by 2025.

Strategic outlook and future goals

Unico Silver has successfully raised $22.5 million to further its exploration efforts at the Cerro Leon and Joaquin projects in Argentina. With this capital, the company plans a 50,000-meter drilling program aimed at updating its Mineral Resource Estimate by late 2025. The placement was well-received by a broad spectrum of institutional investors, particularly from North America. Unico Silver's leadership expressed satisfaction with the strategic placement, highlighting its significance in advancing the company's growth strategy and enhancing its position among ASX-listed peers. The funds will also support general working capital needs. With its expansive exploration portfolio and strategic acquisitions, Unico Silver is well-positioned for resource development and value creation for shareholders.

Executive insights on capital raise

We are pleased with the progress made since acquiring the Joaquin project and are excited about the strategic importance of this placement. The support from our investors, both new and existing, is pivotal as we enter this transformative phase.