Australia's Ballymore Resources drops to one-year low on discounted placement

Ballymore Resources

04/05/2026 05:56

** Shares of Australia's Ballymore Resources BMR.AX fall as much as 10.3% to A$0.13, their lowest level since May 5, 2025

** Stock posts its biggest intraday pct loss since April 20

** The mineral explorer says it will raise A$3.2 million ($2.31 million) through placement

** Offer price of A$0.125 per share marks a 13.8% discount to stock's last close

** Says proceeds to be used to fund drilling projects across Ballymore mines

** Ballymore stock down 56.3%, YTD

($1 = 1.3873 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))