Australia's Perpetual Resources slips on discounted placement

Perpetual Resources

05/08/2025 03:22

** Perpetual Resources PEC.AX slips 11.1% to A$0.024; set for weakest trading session since July 24

** Critical minerals explorer receives firm commitments to raise A$1.6 million ($1 million) via placement

** Issue price of A$0.022 represents 18.5% discount to last close

** Funds will be used to advance co's ongoing exploration activities in Brazil

** More than 4 mln shares traded vs 30-day avg of ~3.2 mln

** YTD, PEC gains 84.6%

($1 = A$1.5477)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))