Broken Hill Mines (ASX:BHM) is pleased to announce it has received firm commitments for a placement for the issue of fully paid shares to raise approximately $38.5 million (before costs) at an issue price of $1.00 per share (Placement). 

📌 Investor Highlights:

• BHM has received firm commitments for a placement to raise a total of $38.5 million from a select group of institutional and sophisticated investors.
  
  
• Placement issue price of $1.00 per share, representing a discount of 5.7% to the last closing price of $1.06 and 1.6% discount to the 10-day VWAP.
  
  
• Bookbuild saw significant demand from leading institutional investors both domestically and internationally.
  
  
• Proceeds from the Placement will be used to:

o Accelerate Rasp resource expansion, with a 17,000m drilling program  

o Expand Pinnacles exploration, with a 25,000m drilling program  

o Accelerate Pinnacles development by fast-tracking open pit opportunity  

o Unlock the 750ktpa capacity of the Rasp plant via a tailings dewatering facility 

💬 BHM’s Executive Chairman Patrick Walta said:

“Broken Hill Mines is excited to undertake this capital raise, with the funds to be allocated toward acceleration of growth initiatives across our Rasp Mine operations and high grade Pinnacles Mine development project.  

BHM is uniquely positioned to provide its shareholders with direct and growing leverage to the current record high silver price through its existing operation. Now is the optimal time to be investing in growth and increasing this production base.

The BHM team would like to thank all shareholders for their continuing support and welcomes new shareholders to the Company. BHM is particularly pleased to see strong interest from domestic and international institutions, including those from recent site visits to Broken Hill.  

BHM looks forward to providing investors with strong news flow throughout 2025 and 2026 as we accelerate our plans toward consolidating Rasp and Pinnacles operations in Broken Hill, and maximising production at the Rasp plant from high grade ore feed.”