Australia's PhosCo hits over three-week low on discounted placement

Phosco

18/02/2026 02:41

** Shares of Australia's PhosCo Ltd PHO.AX fall as much as 3.5% to A$0.14, their lowest level since January 23

** The diversified miner announces A$5.0 million ($3.54 million) placement at an issue price of A$0.12 per share

** Issue price at a discount of 17.2% to stock's last closing

** Funds from placement to fund ongoing exploration, others on co's Gasaat Phosphate project located in Tunisia

** Around 375,614 shares change hands, 3.4x the 30-day average volume

** Stock down 9.7% this year, including day's moves

($1 = 1.4140 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com;))