Australia's Future Metals sinks on discounted placement

Future Metals NL

19/08/2026 04:46

** Shares of Australia's Future Metals FME.AX fall as much as 11.8% to A$0.015, marking their biggest intraday pct loss since July 16
** Shares hit their lowest level since Aug 7
** Diversified mining firm discloses A$3.6 million ($2.55 million) placement at A$0.014 per share, a 17.6% discount to last close on Aug 14
** Co resumes trading on Wednesday after trading halt
** Adds proceeds will be used to conduct a scoping study for its Panton platinum group metals deposit project in Western Australia, among others 
** Nearly 2.4 million shares change hands, about 2.4x the 30-day average
** YTD, stock down 57.1%, including session's moves
     
     
($1 = 1.4134 Australian dollars)

(Reporting by Subhalakshmi Dey in Bengaluru)
((Subhalakshmi.Dey@thomsonreuters.com;))