Australia's McLaren Minerals drops to over 9-month low on discounted placement

McLaren Minerals

16/04/2026 05:56

** Shares of McLaren Minerals MML.AX fall as much as 10.5% to A$0.017, its lowest level since July 1, 2025

** Stock hits biggest intraday pct drop since March 13

** Mineral explorer to offer new shares to raise A$1.5 mln ($1.08 million)

** Offer price of A$0.016/share represents 15.8% discount to stock's last close

** Says funds raised to be used to conduct feasibility studies at McLaren Project, exploration works at co's Barossa Project, among others, in Australia

** Stock down 32% YTD

($1 = 1.3902 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))