Australia's DevEx Resources slips on discounted placement

Alligator Energy

23/12/2025 03:59

** Shares of Australia's DevEx Resources DEV.AX fall as much as 5.4% to A$0.175, the biggest intraday pct drop in a week

** Uranium explorer says it plans to raise A$6.9 million ($4.60 million) through issuing new shares

** Offer price of 14.5 Australian cents per share is a 21.6% discount, as of firm's last close

** Proceeds from share issue will be used to support recently announced acquisitions of additional tenure in Alligator Rivers Uranium Province from Rio Tinto Exploration and Alligator Energy AGE.AX

** Stock up 86.2% YTD, including day's moves

($1 = 1.5008 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))