Silver Mines
LSE : SVLP

December 07, 2010 02:29 ET

Issue of Equity

                                                                                             Appendix 3B
                                                                                  New issue announcement


                                                                       Rule 2.7, 3.10.3, 3.10.4, 3.10.5
                                              Appendix 3B
                                                   
                                        New issue announcement,
                          application for quotation of additional securities
                                             and agreement

Information or documents not available now must be given to ASX as soon as available.  Information and
documents given to ASX become ASX's property and may be made public.

Introduced  1/7/96.   Origin:  Appendix  5.   Amended 1/7/98, 1/9/99, 1/7/2000,  30/9/2001,  11/3/2002,
1/1/2003, 24/10/2005.


Name of entity
Silver Mines Limited

ACN
107 452 942

We (the entity) give ASX the following information.

Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).

1    +Class of +securities issued or  to  (1)Ordinary Fully Paid Shares
     be issued                            
     
                                          
2    Number  of +securities issued or to   2,168,824
     be  issued  (if known)  or  maximum
     number which may be issued
     
                                          
3    Principal  terms of the +securities  
     (eg, if options, exercise price and  Ordinary Fully Paid Shares
     expiry   date;   if   partly   paid  
     +securities, the amount outstanding
     and  due  dates  for  payment;   if
     +convertible    securities,     the
     conversion  price  and  dates   for
     conversion)
                                          
4    Do  the +securities rank equally in       
     all  respects  from  the  date   of  Yes
     allotment  with an existing  +class   
     of quoted +securities?
     
     If the additional securities do not
     rank equally, please state:
     *  the  date from which  they
        do
     *  the  extent to which  they
        participate for the next dividend,
        (in   the   case  of  a   trust,
        distribution) or interest payment
     *  the  extent to which  they
        do not rank equally, other than in
        relation  to the next  dividend,
        distribution or interest payment
                                          
5    Issue price or consideration              12 cents per share
     
                                          
6    Purpose of the issue                 Conversion of Listed Options, exercise price 12
     (If issued as consideration for the  cents, Expiry Date 1 May 2011
     acquisition   of  assets,   clearly
     identify those assets)
     
     
     
                                          
7     Dates   of   entering  +securities  8 December 2010
      into  uncertificated  holdings  or
      despatch of certificates
      
                                          
                                          Number                     +Class
8     Number    and   +class   of    all  106,563,415                Fully Paid Ordinary
      +securities    quoted    on    ASX                             Shares
      (including   the   securities   in                   
      clause 2 if applicable)             28,186,881                 Listed Options, exercise
                                                                     price 12 cents, Expiry
                                                                     Date 1 May 2011
      

                                          Number                     +Class
                                                                                    
9     Number    and   +class   of    all  1,000,000                  Unlisted Options,
      +securities  not  quoted  on   ASX                             exercise price 7 cents,
      (including   the   securities   in                             Expiry 10 July 2013.
      clause 2 if applicable)                                        
                                          1,000,000                  Unlisted Options,
                                                                     exercise price 50 cents,
                                                                     Expiry 13 January 2011.
                                                                     
                                          1,300,000                  Unlisted Options,
                                                                     exercise price 17 cents,
                                                                     Expiry 27 August 2011.
                                                                     
                                          2,000,000                  Unlisted Options,
                                                                     exercise price 24 cents,
                                                                     Expiry 27 August 2012.
                                                                     Vest 27 February 2011
                                                             
                                          2,000,000                  Unlisted Options,
                                                                     exercise price 40 cents,
                                                                     Expiry 27 August 2013.
                                                                     Vest - 27 August 2011
                                                                     
                                          5,000,000                  Unlisted Options,
                                                                     exercise price 35 cents,
                                                                     Expiry Date 1 May 2012
                                          
  
                                          
10    Dividend policy (in the case of  a  Unchanged
      trust,  distribution  policy)   on
      the increased capital (interests)





Part 2 -  Bonus issue or pro rata issue

11    Is    security   holder    approval  N/A
      required?
      
                                           
12    Is  the issue renounceable or  non-  N/A
      renounceable?
                                           
13    Ratio   in  which  the  +securities  N/A
      will be offered
                                           
14    +Class of +securities to which  the  N/A
      offer relates
                                           
15    +Record     date    to    determine  N/A
      entitlements
                                           
16    Will    holdings    on    different  N/A
      registers   (or  subregisters)   be
      aggregated      for     calculating
      entitlements?
                                           
17    Policy  for  deciding  entitlements  N/A
      in relation to fractions
      
                                           
18    Names  of  countries in  which  the  N/A
      entity  has  +security holders  who
      will   not   be  sent   new   issue
      documents
      Note:  Security  holders  must   be
      told how their entitlements are  to
      be dealt with.
      Cross reference: rule 7.7.
                                           
19    Closing   date   for   receipt   of  N/A
      acceptances or renunciations
                                           
20    Names of any underwriters            N/A
                                           
21    Amount  of any underwriting fee  or  N/A
      commission
                                           
22    Names of any brokers to the issue    N/A
                                           
23    Fee  or  commission payable to  the  N/A
      broker to the issue
                                           
24    Amount  of any handling fee payable  N/A
      to  brokers  who lodge  acceptances
      or   renunciations  on  behalf   of
      +security holders
                                           
25    If   the  issue  is  contingent  on  N/A
      +security  holders'  approval,  the
      date of the meeting
                                           
26    Date   entitlement  and  acceptance  N/A
      form   and  prospectus  or  Product
      Disclosure Statement will  be  sent
      to persons entitled
                                           
27    If  the  entity has issued options,  N/A
      and   the   terms  entitle   option
      holders    to    participate     on
      exercise,   the   date   on   which
      notices  will  be  sent  to  option
      holders
                                           
28    Date rights trading will begin  (if  N/A
      applicable)
                                           
29    Date  rights trading will  end  (if  N/A
      applicable)
                                           
30    How   do  +security  holders   sell  N/A
      their  entitlements in full through
      a broker?
                                           
31    How  do +security holders sell part  N/A
      of  their  entitlements  through  a
      broker and accept for the balance?
                                           

32    How  do  +security holders  dispose  N/A
      of  their  entitlements (except  by
      sale through a broker)?
                                           
33    +Despatch date                       N/A
      


Part 3 - Quotation of securities
You need only complete this section if you are applying for quotation of securities

34    Type of securities
      (tick one)
      
(a)   x      Securities described in Part 1
             

(b)          All other securities
             Example:  restricted  securities  at the end of the  escrowed  period,  partly  paid
             securities  that  become  fully  paid,  employee  incentive  share  securities  when
             restriction   ends,  securities  issued  on  expiry  or  conversion  of  convertible
             securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities





Tick   to   indicate   you  are   providing   the              
information or documents

35           If  the  +securities are +equity securities, the names of the 20 largest holders  of
             the  additional +securities, and the number and percentage of additional +securities
             held by those holders
                       
36           If   the  +securities  are  +equity  securities,  a  distribution  schedule  of  the
             additional +securities setting out the number of holders in the categories
             1 - 1,000
             1,001 - 5,000
             5,001 - 10,000
             10,001 - 100,000
             100,001 and over
                       
37           A copy of any trust deed for the additional +securities


Entities that have ticked box 34(b)

38    Number   of  securities  for   which      N/A
      +quotation is sought
      
                                            
39    Class   of  +securities  for   which      N/A
      quotation is sought                       
      
                                            
40    Do  the +securities rank equally  in      N/A
      all   respects  from  the  date   of
      allotment  with  an existing  +class
      of quoted +securities?
      
      If  the additional securities do not
      rank equally, please state:
      *   the  date  from which  they
          do
      *   the  extent to  which  they
          participate for the next dividend,
          (in   the   case  of  a   trust,
          distribution) or interest payment
      *   the  extent to  which  they
          do not rank equally, other than in
          relation  to the next  dividend,
          distribution or interest payment
                                            
41    Reason  for  request  for  quotation  N/A
      now                                   
      Example:  In the case of  restricted  
      securities,   end   of   restriction  
      period
      
      (if   issued   upon  conversion   of
      another  security, clearly  identify
      that other security)


                                            
                                            Number                     +Class
42    Number    and    +class    of    all  N/A                        N/A
      +securities    quoted     on     ASX
      (including the securities in  clause
      38)
      
      
      

Quotation agreement

1       +Quotation of our additional +securities is in ASX's absolute discretion.  ASX may quote the +securities on  any
        conditions it decides.

2       We warrant the following to ASX.

            -   The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

            -   There is no reason why those +securities should not be granted +quotation.

            -   An  offer  of  the  +securities for sale within 12 months after their issue will not require  disclosure
                under section 707(3) or section 1012C(6) of the Corporations Act.
             
                Note:  An entity may need to obtain appropriate warranties from subscribers for the securities in  order
                to be able to give this warranty

            -   Section 724 or section 1016E of the Corporations Act does not apply to any applications received  by  us
                in  relation to any +securities to be quoted and that no-one has any right to return any +securities to
                be  quoted  under sections 737, 738 or 1016F of the Corporations Act at the time that we  request  that
                the +securities be quoted.
        
            -   If  we  are  a  trust, we warrant that no person has the right to return the +securities  to  be  quoted
                under  section  1019B  of  the Corporations Act at the time that we request  that  the  +securities  be
                quoted.

3       We  will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising
        from or connected with any breach of the warranties in this agreement.

4       We  give  ASX the information and documents required by this form.  If any information or document not available
        now,  will  give it to ASX before +quotation of the +securities begins.  We acknowledge that ASX is  relying  on
        the information and documents.  We warrant that they are (will be) true and complete.


Sign here:       ......................................................    Date:  7 December 2010
                  (Company Secretary)

Print name:       Kevin Martin Lynn



+ See chapter 19 for defined terms.


                                                                                             Appendix 3B
                                                                                  New issue announcement


                                       
7 December 2010-12-06
The Manager
Company Announcements Office
ASX Limited
20 Bridge Street
SYDNEY NSW 2000


Dear Sir/Madam

Placement and Appendix 3B

Silver Mines Limited (SVL) is pleased to announce that it has completed a placement to a small
strategic group of sophisticated and professional investors, raising $2.4 million via the issue of
10,000,000 shares at $0.24 per share plus 5,000,000 Options. The Options are exercisable at 35 cents
per share and expire 1 May 2012.

The funds will be used to;

    *   Intensify drilling at the Webbs Silver Project with diamond and reverse circulation programs
        planned to commence in January 2011 and continue through Q1. The drilling will focus on infill targets
        within the existing resource model as well as extensions along strike and laterally in as yet untested
        areas. The results will be used to upgrade the existing JORC Resource model;
    *   Complete Scoping Level engineering, process plant design and mine design studies and
    *   Advance detailed metallurgical test work programs.


Notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth)

In accordance with the requirements with the section 708A(5)(e) of the Corporations Act 2001 (Cth)
('the Act') under
which this notice is given, the Company confirms that:
1       The Company issued the shares without disclosure to the investors under Part 6D.2 of the Act.
2       As at the date of this notice, the Company has complied with:
        2.1 the provisions of Chapter 2M of the Act as they apply to the Company; and
        2.2 section 674 of the Act.
3       As at the date of this notice, there is no information:
        (a) that has been excluded from a continuous disclosure notice in accordance with the ASX
            Listing Rules; and
        (b) that investors and their professional advisers would reasonably require for the
            purpose of making an
                  informed assessment of:
                 (i) the assets and liabilities, financial position and performance, profits and losses
                 and prospects of the Company; or
                 (ii) the rights and liabilities attaching to the ordinary shares of the Company,
                 to the extent to which it is reasonable for investors and their professional advisers
                 to expect to find the
                 information in a disclosure document.
Yours sincerely
Charles Straw
Managing Director

Silver Mines Limited (ACN 107 452 942)
FKP House, 5th Floor 17-19 Bridge St
Sydney, NSW Australia 2001
P: +61 2 9253 0900 F: +61 2 9253 0901
E: info@silverminesltd.com.au
W: www.silverminesltd.com.au

                                                                                             Appendix 3B
                                                                                  New issue announcement
                                                                                  
                                                                       Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B
                                                   
                                                   
                                                   
                                        New issue announcement,
                                                   
                          application for quotation of additional securities
                                                   
                                             and agreement

Information or documents not available now must be given to ASX as soon as available.  Information and
documents given to ASX become ASX's property and may be made public.

Introduced  1/7/96.   Origin:  Appendix  5.   Amended 1/7/98, 1/9/99, 1/7/2000,  30/9/2001,  11/3/2002,
1/1/2003, 24/10/2005.


Name of entity
Silver Mines Limited

ACN
107 452 942

We (the entity) give ASX the following information.


Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).

1    +Class of +securities issued or  to  (1) Ordinary Fully Paid Shares
     be issued                            (2) Unlisted Options, exercisable at 35 cents per
                                              share, expiring 1 May 2012
                                          
2    Number  of +securities issued or to  (1) 10,000,000
     be  issued  (if known)  or  maximum  (2) 5,000,000
     number which may be issued
     
                                          
3    Principal  terms of the +securities  
     (eg, if options, exercise price and  (1) Ordinary Fully Paid Shares
     expiry   date;   if   partly   paid  (2) Unlisted Options, exercisable at 35 cents per
     +securities, the amount outstanding  share, expiring 1 May 2012
     and  due  dates  for  payment;   if  
     +convertible    securities,     the  
     conversion  price  and  dates   for
     conversion)
                                          
                                         
4    Do  the +securities rank equally in       
     all  respects  from  the  date   of  (1) Yes
     allotment  with an existing  +class  (2) N/A
     of quoted +securities?
     
     If the additional securities do not
     rank equally, please state:
     *  the  date from which  they
        do
     *  the  extent to which  they
        participate for the next dividend,
        (in   the   case  of  a   trust,
        distribution) or interest payment
     *  the  extent to which  they
        do not rank equally, other than in
        relation  to the next  dividend,
        distribution or interest payment
                                          
5    Issue price or consideration              24 cents per share with a half free attaching
                                               unlisted option.
                                          
6    Purpose of the issue                 For exploration / drilling at the Company's New
     (If issued as consideration for the  England properties and working capital.
     acquisition   of  assets,   clearly
     identify those assets)
     
     
     
                                          
7     Dates   of   entering  +securities  8 December 2010
      into  uncertificated  holdings  or
      despatch of certificates
      
                                          
                                          Number                     +Class
8     Number    and   +class   of    all  104,394,591                Fully Paid Ordinary
      +securities    quoted    on    ASX                             Shares
      (including   the   securities   in                             
      clause 2 if applicable)             30,355,705                 Listed Options, exercise
                                                                     price 12 cents, Expiry
                                                                     Date 1 May 2011
      
      
                                          Number                     +Class
9     Number    and   +class   of    all  1,000,000                  Unlisted Options,
      +securities  not  quoted  on   ASX                             exercise price 7 cents,
      (including   the   securities   in                             Expiry 10 July 2013.
      clause 2 if applicable)                                        
                                          1,000,000                  Unlisted Options,
                                                                     exercise price 50 cents,
                                                                     Expiry 13 January 2011.
                                                                     
                                          1,300,000                  Unlisted Options,
                                                                     exercise price 17 cents,
                                                                     Expiry 27 August 2011.
                                                                     
                                          2,000,000                  Unlisted Options,
                                                                     exercise price 24 cents,
                                                                     Expiry 27 August 2012.
                                                                     Vest 27 February 2011
                                                            
                                          2,000,000                  Unlisted Options,
                                                                     exercise price 40 cents,
                                                                     Expiry 27 August 2013.
                                                                     Vest - 27 August 2011
                                                                     
                                          5,000,000                  Unlisted Options,
                                                                     exercise price 35 cents,
                                                                     Expiry Date 1 May 2012
                                          
                                          
                                                    
10    Dividend policy (in the case of  a  Unchanged
      trust,  distribution  policy)   on
      the increased capital (interests)


Part 2 -  Bonus issue or pro rata issue

11    Is    security   holder    approval  N/A
      required?
      
                                           
12    Is  the issue renounceable or  non-  N/A
      renounceable?
                                           
13    Ratio   in  which  the  +securities  N/A
      will be offered
                                           
14    +Class of +securities to which  the  N/A
      offer relates
                                           
15    +Record     date    to    determine  N/A
      entitlements
                                           
16    Will    holdings    on    different  N/A
      registers   (or  subregisters)   be
      aggregated      for     calculating
      entitlements?
                                           
17    Policy  for  deciding  entitlements  N/A
      in relation to fractions
      
                                           
18    Names  of  countries in  which  the  N/A
      entity  has  +security holders  who
      will   not   be  sent   new   issue
      documents
      Note:  Security  holders  must   be
      told how their entitlements are  to
      be dealt with.
      Cross reference: rule 7.7.
                                           
19    Closing   date   for   receipt   of  N/A
      acceptances or renunciations
                                           
20    Names of any underwriters            N/A
                                           
21    Amount  of any underwriting fee  or  N/A
      commission
                                           
22    Names of any brokers to the issue    N/A
                                           
23    Fee  or  commission payable to  the  N/A
      broker to the issue
                                           
24    Amount  of any handling fee payable  N/A
      to  brokers  who lodge  acceptances
      or   renunciations  on  behalf   of
      +security holders
                                           
25    If   the  issue  is  contingent  on  N/A
      +security  holders'  approval,  the
      date of the meeting
                                           
26    Date   entitlement  and  acceptance  N/A
      form   and  prospectus  or  Product
      Disclosure Statement will  be  sent
      to persons entitled
                                           
27    If  the  entity has issued options,  N/A
      and   the   terms  entitle   option
      holders    to    participate     on
      exercise,   the   date   on   which
      notices  will  be  sent  to  option
      holders
                                           
28    Date rights trading will begin  (if  N/A
      applicable)
                                           
29    Date  rights trading will  end  (if  N/A
      applicable)
                                           
30    How   do  +security  holders   sell  N/A
      their  entitlements in full through
      a broker?
                                           
31    How  do +security holders sell part  N/A
      of  their  entitlements  through  a
      broker and accept for the balance?
                                           

32    How  do  +security holders  dispose  N/A
      of  their  entitlements (except  by
      sale through a broker)?
                                           
33    +Despatch date                       N/A
      



Part 3 - Quotation of securities
You need only complete this section if you are applying for quotation of securities

34    Type of securities
      (tick one)
      
(a)   x      Securities described in Part 1
             

(b)          All other securities
             Example:  restricted  securities  at the end of the  escrowed  period,  partly  paid
             securities  that  become  fully  paid,  employee  incentive  share  securities  when
             restriction   ends,  securities  issued  on  expiry  or  conversion  of  convertible
             securities


Entities that have ticked box 34(a)



Additional securities forming a new class of securities





Tick   to   indicate   you  are   providing   the              
information or documents

35           If  the  +securities are +equity securities, the names of the 20 largest holders  of
             the  additional +securities, and the number and percentage of additional +securities
             held by those holders
                       
36           If   the  +securities  are  +equity  securities,  a  distribution  schedule  of  the
             additional +securities setting out the number of holders in the categories
             1 - 1,000
             1,001 - 5,000
             5,001 - 10,000
             10,001 - 100,000
             100,001 and over
                       
37           A copy of any trust deed for the additional +securities



Entities that have ticked box 34(b)

38    Number   of  securities  for   which      N/A
      +quotation is sought
      
                                            
39    Class   of  +securities  for   which      N/A
      quotation is sought                       
      
                                            
40    Do  the +securities rank equally  in      N/A
      all   respects  from  the  date   of
      allotment  with  an existing  +class
      of quoted +securities?
      
      If  the additional securities do not
      rank equally, please state:
      *   the  date  from which  they
          do
      *   the  extent to  which  they
          participate for the next dividend,
          (in   the   case  of  a   trust,
          distribution) or interest payment
      *   the  extent to  which  they
          do not rank equally, other than in
          relation  to the next  dividend,
          distribution or interest payment
                                            
41    Reason  for  request  for  quotation  N/A
      now                                   
      
      Example:  In the case of  restricted  
      securities,   end   of   restriction  
      period
      
      (if   issued   upon  conversion   of
      another  security, clearly  identify
      that other security)


                                            
                                            Number                     +Class
42    Number    and    +class    of    all  N/A                        N/A
      +securities    quoted     on     ASX
      (including the securities in  clause
      38)
      
      
      


Quotation agreement

1       +Quotation of our additional +securities is in ASX's absolute discretion.  ASX may quote the +securities on any
        conditions it decides.

2       We warrant the following to ASX.

           -    The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

           -    There is no reason why those +securities should not be granted +quotation.

           -    An offer of the +securities for sale within 12 months after their issue will not require disclosure
                under section 707(3) or section 1012C(6) of the Corporations Act.
                
                Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order
                to be able to give this warranty

   

           -    Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us

                in relation to any +securities to be quoted and that no-one has any right to return any +securities to

                be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that

                the +securities be quoted.

        
           -    If we are a trust, we warrant that no person has the right to return the +securities to be quoted
                under section 1019B of the Corporations Act at the time that we request that the +securities be
                quoted.

3       We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising
        from or connected with any breach of the warranties in this agreement.

4       We give ASX the information and documents required by this form.  If any information or document not available
        now, will give it to ASX before +quotation of the +securities begins.  We acknowledge that ASX is relying on
        the information and documents.  We warrant that they are (will be) true and complete.


Sign here:       ......................................................    Date:  7 December 2010
                (Company Secretary)

Print name:      Kevin Martin Lynn
                                                   

+ See chapter 19 for defined terms.

Contact Information

  • Silver Mines