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Mithril Silver and Gold Limited (ASX: MTH) has arranged a private placement of up to C$11.5 million to accelerate exploration at its Copalquin district project in Durango State, Mexico. At the time of writing, the company reported strong interest from institutional investors across Australia, North America, and other regions. The placement includes 27.78 million shares at C$0.36 each, with the potential for a 15% over-allotment. Funds will be directed toward intensifying drill campaigns and advancing key targets across the Copalquin property, which lies within Mexico’s prolific Sierra Madre Gold-Silver Trend. Mithril plans to mobilize a third drill by late 2025 and has made notable progress mapping high-grade mineralisation. CEO John Skeet highlighted growing investor confidence and the project's transformative exploration potential.
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