Australia's Global Uranium and Enrichment slides on discounted placement

Global Uranium and Enrichment

12/03/2025 23:50

** Shares of Global Uranium and Enrichment GUE.AX fall 7.04% to A$0.066, their lowest levels since March 3

** The miner says received binding commitments for a A$10 million ($6.32 million) for development of the Pine Ridge Uranium Project, USA

** Issue price of A$0.065 per new share at an 8.5% discount to the last trade price

** Stock fell as much as 8.5% earlier in the day, marking its worst intraday drop since February 28

** GUE stock up 10% YTD

($1 = 1.5818 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)

 ((Adwitiya.Srivastava@thomsonreuters.com))