Australia's Paterson Resource falls after discounted private placement

Paterson Resources

13/08/2025 06:16

** Shares of Paterson Resource PSL.AX down about 9.5% at A$0.019, the lowest level since July 29

** PSL earlier slumped as much as nearly 28.6%, its biggest intra-day pct loss since April 17

** Diversified miner receives firm commitment to raise A$910,000 ($594,412) via private placement at an issue price of 1.8 AU cents, a discount of about 14.3%

** Co to raise additional A$1.09 million ($711,443) via non-renounceable entitlement offer

** Funds to be used to complete drilling program

** Around 29 mln shares traded on stock's busiest day ever

** YTD stock up 58.33%

($1 = 1.5321 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))