Australia's Lotus Resources slides on discounted placement

Lotus Resources

04/09/2025 01:59

** Lotus Resources LOT.AX slides as much as 20% to A$0.180; marks biggest intraday pct loss since January 28

** Stock hits its lowest since August 28

** Uranium explorer to raise A$65 mln ($42.2 mln) via placement

** Issue price of A$0.19/share represents 15.5% discount to last close

** Says funds to be used to progress Letlhakane uranium project in Botswana

** YTD LOT falls 5%

($1 = A$1.5389)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))