Australia's Fortuna Metals slips on discounted placement

Fortuna Metals

13/11/2025 02:35

** Shares of Fortuna Metals Ltd FUN.AX fall as much as 12.7% to A$0.12, its biggest intraday pct loss since October 28

** Mineral explorer says firm commitments received to raise A$3.5 million ($2.27 million) via placement at an issue price of A$0.11 per share

** Offer price at a 20% discount to the stock's last close

** Funds will be used to advance planned exploration programs at the co's Mkanda and Kampini rutile and graphite Projects in Malawi, Africa

** YTD, stock up 113.3%, including current session's move

($1 = 1.5389 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))