West Coast Silver Limited has completed the first tranche of its financing, raising A$5.92 million before costs through the issuance of 62,315,791 new fully paid ordinary shares at A$0.095 per share.

The remaining A$80,000 of the total A$6.0 million placement comprises 842,106 shares allocated to Chairman Vince Fayad and Non-Executive Director Thomas Reddicliffe. Issuing these shares is subject to receiving formal shareholder approval at the company's next General Meeting.

The capital injection provides immediate funding to advance the Elizabeth Hill Silver Project in Western Australia. West Coast Silver acquired the historic asset in May 2025, taking control of a deposit that previously produced 1.2 million ounces of silver from 16,830 tonnes at an average grade of 2,194 grams per tonne before closing in 2000.

Proceeds from the placement will directly support an active technical and field work program across the project area. The planned expenditure covers development and exploration drilling, development testwork, regional exploration, and progressive updates to the Mineral Resource Estimate.

With the placement substantially completed, the company is utilizing the funding to advance Elizabeth Hill toward a Scoping Study targeted for completion in 2027.

Read the full announcement: Completion of A$6.0 Million Placement