Australia's FireFly Metals fall on discounted equity raising

Firefly Metals

04/12/2025 24:37

** Shares of Australia's FireFly Metals FFM.AX fall as much as 9.5% to A$1.760, posting their biggest intraday pct drop since November 7

** Stock hits its lowest level since November 26

** Diversified miner to raise A$139 million ($91.78 million) via equity raising at an issue price of A$1.70 per share

** Issue price represents a 12.6% discount to stock's last closing

** Net proceeds will be primarily used for expenditure at co's Green Bay Copper-Gold project

** Stock has nearly doubled in value so far this year, including session moves

($1 = 1.5145 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

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