Australia-listed Sun Silver has successfully raised A$13-million in a capital raise, including A$5-million at a premium price.

The placement comprises the issue of 12.9-million shares at A$0.62 a share, including 6.7-million shares to new strategic cornerstone investor Nokomis Capital.

In addition, Nokomis has committed to subscribe for a further 6.25-million shares at A$0.80 a share.

“We are excited to welcome all new investors, particularly our strategic cornerstone investor, Nokomis Capital. Their investment, along with investment from other global and domestic institutions, positions us for significant growth and acceleration in project development,” said executive director Gerard O’Donovan.

Sun Silver’s main asset is its Maverick Springs project, about 85 km from the mining town of Elko, in Nevada.

The project, which is proximal to the prolific Carlin Trend, hosts a mineral resource of 195.7-million tonnes, grading 40.25 g/t silver and 0.32 g/t gold for 253.3-million ounces of contained silver and 2-million ounces of contained gold.