Australia's Meeka Metals slumps on discounted placement

Meeka Metals

19/06/2025 03:06

** Meeka Metals MEK.AX stock falls 12.9% to A$0.152, their lowest since June 2

** Stock set for worst day since Nov 4, if losses continue

** Gold explorer announces plans to raise A$60 million  ($38.96 million) at issue price of A$0.15 per share, discount of 14.3% to stock's last close

** About 24.6 mln shares change hands, 2.3x 30-day avg

** Stock up 98.1% YTD, including current session moves

($1 = 1.5401 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))