Australian Mines at two-year high on raising $2.6 million

Australian Mines

01/10/2025 05:56

** Shares of Australian Mines AUZ.AX rise as much as 22.7% to A$0.027, their highest level since July 21, 2023

** Biggest intraday pct rise since September 17

** Marks fourth consecutive session of gains

** Metals miner receives firm commitments to raise A$4 million ($2.64 million) at an issue price of A$0.02, same as stock's last close

** Proceeds to be used for drilling at Flemington Scandium Project and Boa Vista Gold Project as well as maintaining general working capital flexibility

** About 61.8 mln shares change hands, 3.2 times the 30-day avg

** Stock is up 163.2% YTD, including the session's moves

($1 = 1.5170 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))