Hamilton Locke is pleased to have advised ASX-listed Silver Mines Limited on the buy-back and extinguishment of two royalties over its flagship Bowdens Silver Project, alongside a $70 million capital raising to help fund the transactions and the Project’s continued development.
On 21 September 2026, Silver Mines Limited (ASX:SVL) announced that its wholly owned subsidiary, Bowdens Silver Pty Ltd, had executed binding agreements to buy back and extinguish two private royalties over its 100% owned Bowdens Silver Project in central New South Wales. The royalties were held by Fitzroy River Resources Ltd (through its subsidiary Royalco Resources Pty Ltd) and Asia Metals 4 Pty Ltd, and were acquired for $17.5 million and $8.5 million respectively, satisfied by a combination of cash and Silver Mines shares.
The buy-backs remove future royalty obligations over the Bowdens Silver Project, simplifying its royalty structure and increasing Silver Mines’ exposure to the Project’s future production as it progresses towards development. The transactions were funded by way of a $70 million placement, lead managed by Petra Capital.
Hamilton Locke advised Silver Mines on the royalty buy-backs and associated due diligence, and on the capital raising used to fund the transactions.
Our team was led by Partners Alison Cooper and Jeremy Newman, who advised on the royalty buy-backs and associated diligence, and the capital raising, respectively. The team also included Special Counsels Simon Barcham and Claudia Bertone and Lawyers Chris Simpson, Tom Lewsey and Kiara Walsh.
