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SILVER MINES LIMITED — Capital/Financing Update 2016
May 30, 2016
65881_rns_2016-05-30_293ed957-3703-4735-abb6-8f7bf181181e.pdf
Capital/Financing Update
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Level 11, 52 Phillip St Sydney NSW 2000 P: +61 2 8316 3997 F: +61 2 8316 3999 [email protected] www.silverminesltd.com.au
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ANNOUNCEMENT: COMPANY UPDATE & VOLUNTARY SUSPENSION
Silver Mines Limited (“the Company”) advises that it expects to complete its financing arrangements immediately after obtaining shareholder approval at the Extraordinary General Meeting (EGM) to be held on 6th June 2016. The Company will request the ASX to lift the voluntary suspension on 14 June 2016.
The Company is well advanced on planning for a substantial drilling campaign at the Bowdens Silver Project. It is expected that the program will consist of a total of approximately 15,000 metres of Reverse Circulation and Diamond drilling. It will involve both resource drilling and exploration drilling proximate to the current Bowdens resource area.
The above is subject to completion of the proposed transaction with Silver Investment Holdings Australia Limited (“SIHA”), all requisite regulatory approvals and financing arrangements.
Yours faithfully Silver Mines Limited
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Trent Franklin Company Secretary
Released: 31[st] May 2016
Silver Mines Limited ABN: 45 107 452 942
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