Australia's FMR Resources marks worst day in more than 2 years on discounted placement

FMR Resources

04/09/2025 01:47

** FMR Resources FMR.AX slips as much as 18.4% to A$0.40; marks biggest intraday pct fall since June 2023

** Co to raise A$3.4 mln ($2.2 mln) via placement to fund exploration at its Llahuin project in Canada

** Issue price of A$0.36/share represents 26.5% discount to last close

** About 278,600 shares traded, ~1.8x the 30-day avg

** YTD, FMR surges more than 160%

($1 = A$1.5389)

 (Reporting by John Biju in Bengaluru)

 ((John.Biju@thomsonreuters.com;))