Australia's M3 Mining slips on discounted placement

M3 Mining

08/09/2025 01:28

** M3 Mining M3M.AX slips as much as 9.4% to A$0.029, lowest since August 19

**  Mining exploration co receives firm commitments to raise A$2.3 mln ($1.5 mln) (before costs) via placement

** Issue price of A$0.018 represents 50% discount to last close

** Funds will be used towards exploration activities at Victoria Bore and Edjudina and others

** Around 432,280 shares traded, 2.2x the 30-day avg

** YTD, M3M falls 17.1%

($1 = A$1.5263)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))