Black Bear Minerals Limited (ASX: BKB) has secured firm commitments to raise $12.5 million through a strongly supported placement priced at $0.55 per share. The funding attracted domestic and international institutions and sophisticated investors, while Executive Chair Matthew Hayes committed $500,000, subject to shareholder approval.

The proceeds will primarily support underground drilling, resource expansion and validation work at the Shafter Silver Project in Texas. Funds will also advance JORC conversion efforts, restart engineering, mine planning, permitting activities and working capital requirements. The placement comprises approximately 22.73 million new shares, with settlement scheduled for 3 September 2026 and allotment expected the following day. 

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