Australia's Pursuit Minerals slips on discounted placement

Pursuit Minerals

24/03/2025 01:10

** Pursuit Minerals PUR.AX slides 6.7% to A$0.07; set for biggest intraday pct drop since February 21

** Stock on track for third straight day of losses

** Metals explorer receives firm commitments to raise A$1.1 mln ($691,900) via placement of shares at issue price of A$0.06, a 20% discount to last close

** Says funds will be used to further develop co's Rio Grande Sur lithium project in Argentina, among others

** More than 189,000 shares traded vs 30-day avg of 108,000

** PUR loses 30% YTD

($1 = A$1.5898)

 (Reporting by Nikita Maria Jino in Bengaluru)

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