Black Bear Minerals raises A$12.5M to advance Texas silver project
What's the deal? Black Bear MineralsDealroom has a profile for this one. Try Dealroom → has secured firm commitments to raise A$12.5 million (≈$9 million) before costs through a share placement. The funds will support exploration and development at its Shafter Silver Project in Texas.
The terms: The post-IPO equity raise involves 22,727,273 new shares priced at A$0.55 each — a 16% discount to the last traded price of A$0.655 on August 25, 2026. Canaccord Genuity (Australia)Dealroom has a profile for this one. Try Dealroom → acted as sole lead manager and bookrunner.
Who's backing it? The placement drew new and existing domestic and international institutional and sophisticated investors. Executive chair Matthew Hayes plans to subscribe for A$500,000 worth of shares, pending shareholder approval at the annual general meeting due in November 2026.
What's the money for? Net proceeds will fund a Stage 1 underground drilling program to expand and define resources at Shafter. Money will also go toward converting the project's foreign resource estimate to JORC standards, permitting, restart engineering, mine planning, and working capital.
What's the endgame? Located in Presidio County, Texas, the Shafter Silver Project hosts a high-grade resource of 1.89 million tonnes at 289 grams per tonne silver — some 17.57 million ounces. The site includes a permitted Merrill-Crowe processing plant, grid-connected power, water rights, and over 160 kilometres of historic underground workings.
The signal: Black Bear positions itself as a North American precious metals developer targeting high-grade gold and silver assets in top-tier US jurisdictions. The raise gives it the capital to move Shafter from resource validation toward a potential restart.
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Image credit: James St. John
