ASX-listed American Rare Earths slumps on discounted placement
24/07/2025 02:14
** Shares of American Rare Earths ARR.AX fall 13.6% to A$0.350, on track for worst day since April 7 if current losses hold ** Stock hits lowest level since July 15 ** Critical minerals co raises A$15 million ($9.90 million) in a placement at an issue price of A$0.32 per share ** Issue price represents a discount of nearly 21% to stock's last close of July 21 after which it went on a trading halt ** About 1.8 mln shares change hands, 1.3x the 30-day average of 1.4 mln ** Stock up 32.1% YTD, including current session moves ($1 = 1.5158 Australian dollars) (Reporting by Jasmeen Ara Shaikh in Bengaluru) ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))
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