Australia's Gateway Mining falls on discounted placement

Gateway Mining

24/09/2025 02:24

** Shares of Gateway Mining GML.AX fall as much as 6.2% to A$0.061, posting their biggest intraday pct loss since September 16

** Gold explorer receives firm commitments to raise A$22.5 million ($14.82 million) via a placement

** Placement issue price at A$0.055 per share, a 15.4% discount to stock's last close

** Co says funds will be used to advance exploration and drilling works at its Yandal project in Western Australia, among others

** More than 96.5 million shares change hands, 16.9 times the 30-day average

** Stock has nearly tripled in value so far this year

($1 = 1.5179 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))