Australia's Rox Resources slumps on discounted placement

Rox Resources

05/05/2025 02:28

** Shares of Rox Resources RXL.AX fall 15.3% to A$0.305, their lowest since April 7

** Gold explorer announces placement to raise A$4 million ($2.59 million) at an issue price of A$0.30 per share

** Issue price represents a discount of 16.7% on stock's last close

** Stock posts biggest intraday percentage drop since April 26, 2024

** About 2.9 million shares change hands, 1.7x the 30-day average of 1.7 million shares

** Stock up 53.8% YTD, including moves in current session

($1 = 1.5456 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

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