Australia's Octava Minerals slips on discounted placement

Octava Minerals

25/07/2025 04:35

** Octava Minerals OCT.AX slips 15% to A$0.034, lowest since July 17

** Rare earths explorer receives firm commitments to raise ~A$1.5 mln ($987,150) via placement

** Issue price of A$0.03 represents a 25% discount to last close

** Funds raised will be used for preliminary exploration as part of due diligence on the Federation Copper-Zinc-Silver Project in Western Tasmania, others

** About 1.1 mln shares traded, ~5x the 30-day average

** OCT loses 72.8% YTD

($1 = A$1.5195)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))