Australia's EQ Resources slumps on discounted placement

EQ Resources

07/07/2025 02:12

** Shares of EQ Resources EQR.AX fall as much as 11.4% to A$0.039, their lowest level since June 27

** Stock marks its biggest intraday fall since May 22

** Tungsten miner to raise A$4 million via placement at an issue price of A$0.035 per share

** Issue price at a discount of 20.5% to the stock's last closing

** Proceeds will be used to fund capital projects related to plant expansion, optimization works at Mount Carbine, among others - EQR

** Stock has risen 4.8% this year, as of 0106 GMT

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com))