Australia's Ionic Rare Earths slides to near three-month low on discounted placement

Ionic Rare Earths

05/08/2026 03:46

** Shares of Australia's Ionic Rare Earths IXR.AX fall as much as 11.1% to A$0.280, marking their biggest intraday pct loss since March 9
** Shares hit their lowest since May 8
** Mineral explorer discloses A$8 million ($5.6 million)placement at A$0.26 per share, a 16.1% discount to last close on July 31; shares resume trade following trading halt 
** Co says proceeds will be used to support Belfast Plant commercialization, among other objectives 
** Nearly 667,323 shares change hands, about 2.7x the 30-day average 
** YTD, stock down 32.6%


($1 = 1.4198 Australian dollars)

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