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Advance Metals raised $13M in Australia, boosting exploration in Mexico and Victoria, with strong investor backing and promising early results.
Advance Metals raised $13 million on the ASX at 10 cents per share, a 30% premium to its 20-day average price, with shares surging 30% after the raise.
The funds will support exploration at its Guadalupe y Calvon silver-gold project in Mexico and high-grade gold drilling in Victoria, including Happy Valley.
Major institutional investors, including Jupiter Asset Management and Tribeca, backed the raise, which was structured in two tranches.
Early results show exceptional grades, such as 1.11 meters at 2,063g/t gold equivalent at Yoquivo.
The company is pursuing a North American dual listing to boost liquidity and attract broader investment.
Key upcoming milestones include drill permits in Mexico and initial drilling at Guadalupe y Calvon.
Advance Metals recaudó $ 13M en Australia, impulsando la exploración en México y Victoria, con un fuerte respaldo de los inversores y prometedores primeros resultados.