Australia's Macro Metals jumps on premium placement

Macro Metals

05/08/2025 03:23

** Shares of Macro Metals M4M.AX rise as much as 50% to A$0.009, their highest level since July 10

** Stock posts its biggest intraday pct gain since December 4, 2024

** Iron ore explorer receives firm commitments to raise A$2 million ($1.29 million) via placement to support evaluation of exploration assets, including phase three field works at Turner Iron Ore Project, Western Australia

** Issue price of A$0.007 per share represents a 16.6% premium to last close

** About 17.8 mln shares change hands, 4.7x the 30-day average

** Stock last up 25%, with YTD gains of 37.4%

($1 = 1.5477 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com))