Australia's Loyal Metals slides on discounted placement

Loyal Metals

04/08/2025 02:34

** Loyal Metals LLM.AX slides as much as 16.3% to A$0.180; marks biggest intraday pct loss since September 5, 2024

** Stock hits lowest since July 2

** Co secures commitments for A$2 mln ($1.3 mln) capital raise at issue price of A$0.18 - a 16.3% discount to last close

** Funds will be used to accelerate exploration at Queensland's Highway Reward Copper-Gold Project, support working capital needs

** LLM last down 7%, taking YTD gains to 81.8%

($1 = A$1.5442)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com))