Australia's European Resources drops to three-week low on discounted rights issue

European Resources

17/03/2026 24:14

** Shares of Australia's European Resources ERE.AX fall as much as 13.6% to A$0.019, their lowest level since February 23

** Stock posts its biggest intraday pct drop since February 25

** The diversified miner announces rights issue to raise A$4.3 million ($3.04 million) at an issue price of A$0.019 per share

** Issue price at a discount of 13.6% to stock's last closing

** Stock has risen 18.8% this year, including session moves

($1 = 1.4154 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com;))