Australia's Accelerate Resources slips on discounted placement

Accelerate Resources

28/05/2026 05:58

** Accelerate Resources AX8.AX shares slump 14.3% to A$0.006, on track for their steepest single-day decline since May 18
** Miner secures A$2 million ($1.42 million) via a two-tranche placement at A$0.005 per share, representing a28.6 % discount from last close
** Placement proceeds earmarked to accelerate exploration at Woodie Woodie North Manganese and Balagundi Gold, alongside bolstering working capital
** Stock down 14.3% YTD
($1 = 1.4083 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))