Australia's Kaoko Metals falls on discounted placement

Kaoko Metals

07/09/2026 03:48

** Shares of Kaoko Metals KAO.AX fall as much as 8% to A$2.3, their biggest intraday pct loss since July 14
** Diversified miner announces A$20 million ($14.40 million) placement at A$2.20 per share, a 12% discount from the stock's last close on Thursday
** KAO says will use proceeds to accelerate diamond drilling at its Chalkos copper-silver project 
** 930,076 shares change hands, 2.4x the 30-day average 
** Stock up 560.8% since commencing trading in May 

($1 = 1.3891 Australian dollars)

 (Reporting by Rudrannsh Mehra in Bengaluru)
 ((Rudrannsh.Mehra@thomsonreuters.com;))