Australia's Locksley Resources drops on discounted placement

Locksley Resources

08/12/2025 04:49

** Shares of Australia's Locksley Resources LKY.AX fall as much as 11.9% to A$0.26, set for their weakest trading session since October 28, if current trends hold

** Stock touches its lowest level since November 21

** Mineral explorer says it has raised A$17 million ($11.29 million) through placement

** Offer price of A$0.24 per share represents an 18.6% discount, as of last trading close on Wednesday, before it went on a trading halt pending announcement

** Placement to fund drilling and exploration at the company's Mojave Project in California, U.S., among others

** Stock has jumped more than 15-fold this year, including the session's moves

($1 = 1.5051 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))