Australia's Sunrise Energy Metals dives on discounted placement

Sunrise Energy Metals

22/04/2025 02:11

** Sunrise Energy Metals SRL.AX plunges as much as 38.7% to A$0.435, lowest since April 11

** Diversified miner plans to raise A$6 mln ($3.8 mln) via placement at issue price of A$0.30, ~58% discount to last close

** Announces share purchase plan to raise additional A$1.5 mln, with same terms as the placement

** Funds to help co's drilling campaign at Syerston Scandium deposit in New South Wales

** Stock more than triples YTD

($1 = A$1.5613)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))