10:41 AM EST, 02/07/2025 (MT Newswires) -- AbraSilver Resource ( ABBRF ) was at last look up by more than 3% on Friday after saying it has closed its $30 million offering, and will use the funds to develop the Diablillos project in Argentina.

The company issued near 11.8 million common shares at $2.55 each. This total includes the full exercise of the over-allotment option.

AbraSilver also intends to complete a private placement of up to near 11.2 million shares at the same issue price, for proceeds of $28.5 million. The placement relates to participation rights held by an affiliate of Central Puerto and Kinross Gold ( KGCRF ) . The concurrent private placement is expected to close on Feb. 11.

The company's shares were last seen up $0.10, to $3.10, on the TSX Venture Exchange.

Price: 3.10, Change: +0.10, Percent Change: +3.33