Australia's Bubalus Resources slips on discounted placement

Bubalus Resources

04/12/2025 02:02

** Shares of Bubalus Resources BUS.AX fall as much as 3.6% to A$0.135

** Mineral explorer says firm commitments received to raise A$1.5 million ($990,750.00) via a placement at an issue price of A$0.12 per share

** Issue price represents a 14.3% discount to stock's last close

** Funds will be used to advance co’s Victorian gold projects and Northern Territory critical minerals projects

** About 328,900 shares traded, 1.4x the 30-day average

** YTD, stock up 3.9%, including current session's move

($1 = 1.5140 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))