Australia's QEM falls on discounted placement

QEM

15/04/2026 03:16

** Shares of uranium miner QEM Ltd QEM.AX fall 5.8% to A$0.049, on track for worst day since March 30, if trend holds

** Co announces placement to raise A$2.6 million ($1.85 million) at A$0.045/shr

** Issue price is at a discount of 13.5%

** Co also says it will acquire two fluorspar, tungsten and niobium projects in the U.S.; did not provide deal value

** About 13.4 mln shares change hands, 10.8x the 30-day average of 1.2 mln

** Stock up 240% YTD

($1 = 1.4031 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((Jasmeenaraislam.Shaikh@thomsonreuters.com;))