First Andes Silver Ltd Announces $1 Million Private Placement
First Andes Silver Ltd, a mining company listed on the TSX Venture Exchange, has recently announced a significant financial development. On July 4, 2025, the company successfully arranged a non-brokered private placement to raise $1 million CAD. This financing was achieved through the issuance of 10 million units, each priced at $0.10 CAD. Each unit comprises one common share and one-half warrant, with each full warrant exercisable at $0.15 CAD for a period of two years.
The proceeds from this private placement are earmarked for the expansion of First Andes Silver’s drill program at the Santas Gloria silver property. Additionally, the funds will provide essential working capital to support the company’s ongoing operations. This strategic move is expected to bolster the company’s exploration efforts and enhance its portfolio of mineral properties in Bolivia and Peru.
Despite the positive news surrounding the private placement, the company’s stock performance has seen a downturn. On July 6, 2025, shares of First Andes Silver Ltd fell by 16% during mid-day trading. The stock traded as low as C$0.10 and last traded at C$0.11, marking a significant increase in trading volume of 1,820% from the average session volume. The stock had previously closed at C$0.13.
As of July 3, 2025, the close price of First Andes Silver Ltd was C$0.105, with a 52-week high of C$0.18 on July 22, 2024, and a 52-week low of C$0.035 on December 26, 2024. The company’s market capitalization stands at C$3.48 million, with a price-to-earnings ratio of -0.75 and a beta of 1.65.
This financial maneuver highlights First Andes Silver Ltd’s commitment to advancing its exploration projects and maintaining operational liquidity. Investors and stakeholders will be closely monitoring the impact of this private placement on the company’s future growth and market performance.