Australia's Saturn Metals hits four-month low on discounted placement

Saturn Metals

29/07/2026 03:51

** Shares of Australia's Saturn Metals STN.AX drop as much as 11.1% to A$0.4000, hitting its lowest level since March 30
** Stock headed for its worst session since June 10, if trends hold
** Gold exploration co receives firm commitments to raise A$100 million ($69.50 million) via share placement 
** Adds, placement is valued at A$0.40 per share, an 11.1% discount to co's last close 
** Funds to be used for the advancement of Apollo Hill Gold Project in Western Australia, co says
** 2.2 million shares change hands vs 30 day average of nearly 800,000
** Stock down 18% YTD, including sessions' moves



($1 = 1.4388 Australian dollars)

 (Reporting by Shravya Marakini in Bengaluru)
 ((Shravya.Marakini@thomsonreuters.com;))