Australia's IRIS Metals slips on discounted placement

Palisade Metals

03/02/2026 03:57

** Shares of Australia's IRIS Metals IR1.AX fall 7.7% to A$0.18, on track for their steepest intraday drop since January 5

** Lithium explorer receives firm commitments to raise A$5.5 million ($3.85 million) via placement at an offer price of A$0.165 per share

** Offer price represents a 15% discount to the last closing price

** Funds will be used to advance the company’s various critical minerals projects

** IR1 up 9.1% YTD

($1 = 1.4280 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))