Australia's Star Minerals falls on discounted placement

Star Minerals

12/03/2025 24:52

** Shares of Star Minerals SMS.AX fall 6.7% to A$0.028, their lowest level since Feb. 14

** Copper and gold miner says it will raise A$1.6 million  ($1.01 million) through a placement to fund work on Tumblegum South Gold Project and other projects

** Issue price of A$0.025 represents a 16.67% discount to the stock's last close

** Stock marks its biggest intraday gain since Feb. 25

** SMS down 22.2% YTD

($1 = 1.5898 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)

 ((Adwitiya.Srivastava@thomsonreuters.com))