Australia's Anax Metals rises on $7 million fundraising, loan repayment

Anax Metals

18/03/2026 04:03

** Shares of Anax Metals ANX.AX rise as much as 21.7% to A$0.028, their highest level since March 2

** Mineral explorer receives firm commitments to raise A$10 million ($7.10 million)

** Issue price of A$0.023/share, in line with co's last close

** Proceeds from placement will be used to repay A$3.5 million loan from major shareholder Jetosea Pty, others

** Trading volume at 6.5 mln shares so far, 2.4x 30-day average

** Stock up 36.8% YTD, including the day's move

($1 = 1.4077 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))