Andean Silver doubles share purchase plan following strong shareholder demand

The amount raised is in accordance with the terms of the SPP Offer Booklet released to the ASX on December 16, 2025.

The decision to increase the overall SPP allocation reflects the company’s commitment to its supportive retail shareholders, Andean says in a statement.

Applications under the SPP, which closed on December 29, 2025, totalled about A$18-million, and significantly exceeded the original A$3-million target announced on December 8, 2025, the company points out.

The SPP was open to 2 945 eligible shareholders at a registered holder level. The company received applications from 977 eligible shareholders (including custodian level applications), representing a participation rate of about 26% and an average application amount of about A$23 000, it explains.

The funds raised under the placement and SPP (A$36-million in total before costs) will be used to accelerate drilling at the Cerro Bayo silver/gold project, in Chile.

Funds will also support the advancement of project studies, the evaluation of land right acquisitions in areas close to Cerro Bayo, general working capital requirements and costs associated with the raisings.

“The demand for the SPP was exceptionally strong, reflecting the rapid progress we are making at the Cerro Bayo project and our ability to unlock an abundance of opportunities to drive growth and value creation,” says Andean chairperson David Southam.

“The proceeds from the placement and SPP will help us accelerate our drilling programmes, project studies and potential land acquisitions. Andean is uniquely placed in the silver market with its significant existing infrastructure, which will help deliver a capital-light restart in the quickest and most efficient manner,” he adds.