Australia's Recharge Metals loses most in 3-1/2 months on discounted placement

Recharge Metals

15/10/2026 04:27

** Shares of REC.AX fall 15.4% to A$0.033, their biggest intraday percentage drop since June 30 and their lowest point since about a week
** The mineral explorer raises A$4.1 million ($2.85 million) through a placement at A$0.036 per share, a ~7.7% discount to its last close
** Funds to accelerate drilling and exploration across its gold and copper-tungsten projects in Western Australia
** Over 3.8 million shares traded, ~2x times the stock's 30-day average daily volume
** Stock has more than tripled in value this year, surging ~204%

 (Reporting by Swetha Lakshmi in Bengaluru)
 ((Swetha.Lakshmi@thomsonreuters.com;))