Australia's Gold Mountain drops to two-week low on discounted placement

Gold Mountain

29/04/2026 04:31

** Shares of Gold Mountain GMN.AX fall as much as 15.4% to A$0.11, their lowest level since April 15

** Stock on track to log its steepest intraday pct fall since April 13

** The mineral explorer receives commitments to raise A$5.5 million ($3.94 million) through placement of 55 million new shares

** Issue price of A$0.10 per share represents a 23% discount to the stock's last close

** Stock up 74.6% YTD, including the session's moves

($1 = 1.3965 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))