Australia's Latrobe Magnesium falls on discounted fund raising

Latrobe Magnesium

22/09/2026 02:08

** Shares of Latrobe Magnesium LMG.AX fall 10.5% to A$0.017, on track for their worst session since September 9, if trends hold
** The magnesium metal developer to raise A$8.5 million  ($6.05 million) at an offer price of A$0.015 per share
** Offer price is at a discount of 21.1% to stock's last close
** About 75.2 million shares change hands, 7.1x the 30-day average of 10.6 million 
** Stock down 19%, YTD, including moves in current session

($1 = 1.4041 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)
 ((Jasmeenaraislam.Shaikh@thomsonreuters.com;))