Australia'S Lake Resources rises on premium placement

Lake Resources NL

27/07/2026 06:44

** Shares of Australia's Lake Resources LKE.AX up as much as 10% to A$0.044, headed for its best session since July 1, if trends hold
** Stock hits its highest level since July 10
** Lithium developer says it will issue 63.5 mln shares to Acuity Capital to raise A$3.8 million ($2.66 million)
** Says placement offered at issue price of A$0.06 per share, a 50% premium to co's last close 
** Co says funds will be used for activities at Kachi Project in Argentina  
** Stock down ~64% YTD

($1 = 1.4296 Australian dollars)

 (Reporting by Shravya Marakini in Bengaluru)
 ((Shravya.Marakini@thomsonreuters.com;))