Australia's QMines slips on discounted placement

QMines

26/09/2025 03:26

** QMines QML.AX falls as much as 8.5% to A$0.065; marks biggest intraday percent drop since July 31

** Stock hits lowest since September 17; down 5.7% so far this week

** Gold explorer receives firm commitments to raise A$7.5 mln ($4.9 mln) at A$0.055/share

** Placement price represents 21.4% discount to last close

** Proceeds will be used to accelerate exploration, development at Mt Mackenzie, Mt Chalmers and Develin Creek projects in Queensland

** Around 3.1 mln shares traded, ~2.3x the 30-day average

** YTD, QML up 22.2%

($1 = A$1.5295)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))