Australia's Gateway Mining falls on discounted placement

Gateway Mining

09/09/2026 02:27

** Shares of Australia's Gateway Mining GML.AX fall as much as 10.4% to A$0.086, marking their biggest intraday pct loss since June 30 
** Stock hits weakest level since September 2 
** Co announces A$45 million ($32.50 million) placement at A$0.08 per share
** Offer price represents a 16.7% discount to last close on Friday before it went on trading halt
** About 3.7 mln shares change hands, 1.1x the 30-day average
** GML snaps five-day winning streak, last down 8.3% to trim YTD gains to 20.6% 

($1 = 1.3845 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))