Australia's Jindalee Lithium slips on discounted placement

Jindalee Lithium

20/10/2025 03:02

** Shares of Australia's Jindalee Lithium JLL.AX fall as much as 39.9% to A$0.55, their lowest point since October 3

** The lithium explorer receives firm commitments to raise A$8 million ($5.20 million) via placement at an issue price of A$0.55 per share

** Placement price represents a nearly 40% discount to stock's last close

** Proceeds will be used to support exploration drilling, metallurgical testwork, repayment of convertible notes and working capital, among others

** Around 1 million shares change hands, nearly 3.1x 30-day average

** Jindalee Lithium stock up 163.6%, YTD

($1 = 1.5373 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))