09:59 AM EST, 02/12/2025 (MT Newswires) -- AbraSilver Resource ( ABBRF ) was at last look on Wednesday up more than 1% -- while the broader market is lower -- after the company said it had closed its private placement offering, raising near $28.5 million. The company issued near 11.2 million shares at $2.55 each.

Including the previously announced $30 million public offering, AbraSilver has now raised total of $58.5 million. It has also issued 10.1 million common shares to an affiliate of Central Puerto, and 1.1 million shares to Kinross Gold ( KGCRF ) , as both companies had exercised their participation rights.

"The completion of our financings significantly strengthen our balance sheet and allow us to accelerate the advancement of our flagship Diablillos silver-gold project. The strong support from key strategic investors, including Central Puerto and Kinross, as well as participation from institutional investors, underscores the high level of confidence in our project's potential," said John Miniotis, chief executive.

AbraSilver was last seen up $0.04, to $3.15, on the TSX Venture Exchange.

Price: 3.15, Change: +0.04, Percent Change: +1.29