Australia's Sun Silver slumps on discounted placement

Sun Silver

24/07/2025 02:13

** Shares of Sun Silver SS1.AX fall as much as 14.8% to A$0.92, their lowest level since July 15

** The silver and gold explorer announces a placement of A$30 million ($19.79 million) at an issue price of A$0.92 per share

** Stock posts its biggest intraday percentage loss since April 7

** Net proceeds of the placement will be used to develop SS1's Maverick Springs Silver-Gold Project in Nevada, USA

** About 1.4 million shares change hands vs its 30-day avg of about 1 million

** Stock up 52.8% YTD, including the session's moves

($1 = 1.5156 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))