Australia's Peak Minerals hits 6-year high, secures$2.3 mln placement

Lion Rock Minerals

03/07/2025 06:04

** Peak Minerals PUA.AX soars 20% to A$0.042, highest since May 10, 2019

** Gold and copper explorer receives commitment for placement worth A$3.5 mln ($2.3 million)

** Proceeds will be used to accelerate exploration at Minta Rutile Project in Cameroon

** Placement of 100 mln shares at issue price of A$0.035, same as stock's last close

** Newly issued shares represent 4.9% of PUA's free float of 2.01 billion, as per data compiled by LSEG

** About 34 mln shares traded, ~2.5x the 30-day avg

** YTD, PUA surges 441.4%

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com))