Australia's Prospect Resources hits three-week low on discounted placement

Prospect Resources

16/02/2026 02:46

** Shares of Australia's Prospect Resources PSC.AX fall as much as 10.8% to A$0.37, their lowest level since January 21

** Stock posts its biggest intraday pct fall since January 29

** The battery metals miner announces A$45 million ($31.87 million) placement at an issue price of A$0.38 per share

** Issue price at an 8.4% discount to stock's last closing

** Funds from placement to help  advance the Mumbezhi Copper project in Zambia

** Stock has risen 49% this year, including session moves

   ($1 = 1.4120 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

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