Australia's Stellar Resources slumps to 7-week low on discounted placement

Stellar Resources

11/11/2025 03:47

** Shares of Stellar Resources SRZ.AX fall as much as 6% to A$0.024, their lowest level since September 23

** Stock posts biggest intraday pct fall since November 5

** Mineral explorer to raise A$9 million ($5.85 million) via placement

** Issue price of A$0.022 per share represents a 12% discount to stock's last close

** Funds to be used towards development study costs at the Heemskirk Tin Project in Western Tasmania, others

** About 6.6 mln shares traded so far, about 2x 30-day average

** YTD, stock up 56.3%, including current session's move

($1 = 1.5389 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

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