Silver Mines raises more

SPROTT-backed Silver Mines, which claims to have the largest undeveloped silver project in Australia, has taken advantage of the buoyant silver market to raise a further $10 million to fund its work at the flagship Bowdens deposit and drilling at its Barabolar exploration prospect.

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Silver Mines wants to build a silver mine here.

Canada's Sprott Asset Management, which tipped in $1 million during a $2.75 million placement at 5c in July, also participated in the latest raising, pitched at 10c.