Australia's Resource Mining Corp tumbles on discounted placement

Resource Minerals International

22/05/2025 01:48

** Shares of Resource Mining Corporation RMI.AX fall 15.4% to A$0.022, lowest since May 16

** Stock set for its weakest session since May 1, if current trends hold

** Minerals explorer receives commitments to raise A$2 million ($1.29 million) via placement

** Issue price of A$0.021 represents a 19.2% discount to co's last close

** Says funds raised to be used for copper-gold exploration in Tanzania, others

** Stock up 266.7% YTD, including current session's moves

($1 = 1.5542 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))