Australia's Manuka Resources drops on discounted placement

Manuka Resources

07/09/2026 04:24

** Shares of Australia's Manuka Resources MKR.AX fall as much as 11.5% to A$0.069, their biggest intraday pct fall since May 20
** Shares hit their lowest level since August 5
** Diversified miner announces A$14.5 million ($10.45 million) placement at an issue price of A$0.07 per share 
** Issue price at a 10.3% discount to stock's last close on September 2
** Co says proceeds will be used to fund completion and commissioning of Wonawinta silver project in east Australia, among other uses
** YTD, stock down 24.2% 

($1 = 1.3873 Australian dollars)

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((Subhalakshmi.Dey@thomsonreuters.com;))