Australia's Equinox Resources falls on discounted placement

Eminence Minerals

02/05/2025 04:03

** Equinox Resources EQN.AX plunges as much as 17.4% to A$0.095; marks biggest intraday pct loss since April 7

** Stock hits lowest since April 24

** Mineral explorer says it will raise A$3 mln ($1.9 mln) via two-tranche placement at A$0.095

** Issue price 17.4% discount to last close on Tuesday when trading was halted pending announcement

** About 506,347 shares traded vs the 30-day avg of 185,773

** YTD, stock loses 5.7%

($1 = A$1.5605)

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))