Australia's Stavely Minerals drops on discounted placement

Stavely Minerals

13/04/2026 05:39

** Shares of Stavely Minerals SVY.AX fall as much as 7.1% to A$0.013, their biggest intraday pct drop since April 1

** Mineral explorer says it would raise A$4 mln ($2.81 million) through placement

** Offer price of A$0.0115/share represents a nearly 18% discount to stock's last close

** Says funds raised to be used for exploration targeting, field activities, among others

** Stock down 22.2% YTD, including day's moves

($1 = 1.4211 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))