Australia's Albion Resources falls to 1-1/2-week low on discounted placement

Albion Resources

19/10/2026 02:13

** Shares of Albion Resources ALB.AX fall as much as 11.3% to A$0.055, their biggest intraday percentage loss since October 2
** Stock hits its lowest level since October 8
** The gold explorer secures commitments to raise A$1.8 million  ($1.25 million) through a placement at A$0.05 per share
** Issue price represents a 19.4% discount to the closing price on Friday 
** Funds will be used to accelerate drilling and exploration at the company's Gidgee Gold Project in Western Australia
** YTD, Albion stock down 15.4%, including the session's moves

($1 = 1.4358 Australian dollars)

 (Reporting by Paridhi Minda in Bengaluru)
 ((Paridhi.minda@thomsonreuters.com;))