Highlights

  • West Coast Silver received firm commitments of AUD$3.2 million through a placement to institutional and professional investors.
  • Funds will be directed toward drilling, assay processing and regional target evaluation at the Elizabeth Hill Silver Project.
  • Assay results are expected early in 2026, with technical site visits scheduled for January and early February.

West Coast Silver Limited (ASX:WCE) has secured AUD 3.2 million in funding through a strategic share placement, providing capital to progress exploration activities at the Elizabeth Hill Silver Project and across its broader project portfolio. The placement positions the company to continue drilling, process pending assays, and assess regional targets as it moves into 2026.

Capital Raising Supports 2026 Exploration

The company confirmed it has received firm commitments to raise AUD$3.2 million before costs via the placement of fully paid ordinary shares. The capital raising was led by CPS Capital and involved existing and new institutional, professional and sophisticated investors.

Proceeds are intended to maintain exploration activity at Elizabeth Hill while expanding evaluation across the surrounding district. The funding also supports regional target generation aimed at identifying additional silver mineralisation comparable to that historically mined at Elizabeth Hill.

Details of the Placement

Under the placement, West Coast Silver will issue 16,842,106 new fully paid ordinary shares at an issue price of AUD 0.19 per share. The issue price represents an 11.9% discount to the company’s 15-day volume-weighted average price of AUD 0.2157.

Settlement is expected to occur on or around 5 January 2026, with the new shares anticipated to be issued by approximately 7 January 2026, subject to standard settlement procedures and receipt of funds.

Use of Funds and Planned Activity

Funds raised will be allocated to ongoing drilling and follow-up exploration at the Elizabeth Hill Silver Project, alongside assay processing and interpretation. The company has indicated that assay results are expected early in the New Year, providing near-term updates on exploration progress.

Additional funding will be used to evaluate near-mine and regional targets across the consolidated landholding, with a focus on identifying repeat silver deposits within the broader district. Technical site visits are planned for January and early February 2026, including engagement with specialist geologists to refine exploration priorities for the year ahead. A portion of the funds will also be applied to general working capital.

Elizabeth Hill Project Overview

Elizabeth Hill is a high-grade silver project with a production history that includes the recovery of approximately 1.2 million ounces of silver from 16,830 tonnes of ore at a head grade of 2,194 grams per tonne. Mining operations ceased in 2000, largely due to prevailing silver prices at the time.

West Coast Silver has consolidated a contiguous land package of approximately 180 square kilometres surrounding the historic mine. The tenure covers sections of the Munni Munni fault system and parallel structures considered prospective for additional silver mineralisation.

Market Update

During the trading session on 31 December 2025, West Coast Silver shares were trading at AUD 0.230, down 13.207%