Andean Silver Limited Raises AU$30 million to Accelerate Resource Expansion and Restart Activities

Andean Silver Limited (ASX: ASL) announced it has secured firm commitments to raise AU$30 million (before costs) through a placement of 25,000,000 fully paid ordinary shares at an issue price of AU$1.20 per share. Following the placement, the Company will have a pro-forma cash balance of approximately AU$42.2 million, based on a reported AU$12.2 million cash position as of 30 June 2025.

The proceeds will be directed towards drilling programs aimed at expanding Mineral Resource Estimates across both brownfield and greenfield zones, as well as upgrading Inferred Resources to Measured and Indicated categories. These efforts will support mining restart studies, metallurgical and geotechnical test work, and feasibility study activities. Remaining funds will be used for working capital and placement costs. The placement received strong interest, particularly from northern hemisphere institutions.

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