Australia's Rox Resources slips on discounted placement

Rox Resources

14/11/2025 02:24

** Rox Resources RXL.AX slips as much as 17.6% to A$0.375; marks biggest intraday pct loss since May 5

** Stock hits lowest since September 1

** Gold explorer receives firm commitments to raise A$200 million (~$130 million) at A$0.35/share

** Issue price represents 23.1% discount to last close

** Co will raise A$10 million via share purchase plan at same issue price as placement

** Funds will be used to develop, construct Youanmi Gold Project in Western Australia, others

** About 6.9 mln shares traded, 2.9x the 30-day average

** YTD, RXL soars 92.5%

($1 = A$1.5389)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))