West Coast Silver Limited has secured firm commitments to raise $6 million through an oversubscribed placement of 63,157,897 ordinary shares priced at $0.095 each to fund exploration and technical studies across the Elizabeth Hill Project in Western Australia.

The placement was upsized from an initial target of $3.5 million following strong investor demand. CPS Capital Group Pty Ltd acted as lead manager for the raising, which is scheduled to be completed on or around September 8, 2026.

Admiralty Resource Fund, an entity associated with Paul Cronin, participated in the placement with a $500,000 commitment for 5,263,158 shares. The broader capital raising will be issued across two tranches, with the second tranche including $75,000 from Non-Executive Chairman Vince Fayad and $5,000 from Non-Executive Director Thomas Reddicliffe, subject to shareholder approval at the company's next general meeting.

The proceeds will support an active work program, allocating $1.75 million to infill, step-out, metallurgical, and geotechnical development drilling, alongside $1.25 million dedicated to exploration drilling at Elizabeth Hill Deeps, South, and West. An additional $500,000 will fund regional geophysics and fieldwork, while $400,000 is earmarked for development testwork. The company also allocated $250,000 toward a maiden scoping study and $250,000 for progressive mineral resource estimate updates scheduled for the fourth quarter of 2026 and the second quarter of 2027.

West Coast Silver completed the acquisition of the Elizabeth Hill Silver Project in May 2025 and subsequently rebranded from Errawarra Resources. The underground mine previously produced 1.2 million ounces of silver from 16,830 tonnes of ore at an average grade of 2,194 grams per tonne prior to closing in 2000.

"With the additional funding secured, West Coast Silver is now in a strong position to accelerate drilling across Elizabeth Hill, pursue the significant near-surface and deeper growth opportunities identified to date, and advance the technical work required to progress the Project towards development." 

— Vince Fayad, Non-Executive Chairman

Regional activity has concurrently advanced across the surrounding district, where GreenTech Metals Limited commenced an 8,300-metre drill program at the Munni Munni project on August 3, 2026.

Read the full announcement: $6M Placement to Accelerate Elizabeth Hill Exploration