Australia's Dreadnought Resources slides on discounted placement

Dreadnought Resources

10/10/2025 24:32

** Shares of Dreadnought Resources DRE.AX fall as much as 11.9% to A$0.037, their biggest intraday fall since September 10

** Diversified miner says firm commitments received to raise A$18 million ($11.80 million) at an issue price of A$0.035 per share

** Offer price at a 16.5% discount to the stock's last close

** Stock at lowest level since October 2

** Stock set for its worst week since mid-June, if trend holds

** DRE currently down 8.3%, bringing YTD gains to 250%

($1 = 1.5251 Australian dollars)

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))