Australia's Prospech hits more than 7-week low on discounted rights issue

European Resources

01/09/2025 02:58

** Prospech PRS.AX falls as much as 5.6% to A$0.017, lowest since July 10

** Stock marks biggest intraday pct fall since August 21

** Diversified miner announces rights issue to raise A$1.6 mln ($1 mln) at A$0.015/share

** Issue price a 16.7% discount to last close

** Funds will be used to advance rare earth metallurgical work programmes, exploration of co's Finnish and Slovakian projects

** YTD, PRS falls 39.7%

($1 = A$1.5389)

 (Reporting by Roshan Thomas in Bengaluru)

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