Australia's Sunshine Metals falls on discounted placement

Sunshine Metals

01/09/2025 04:12

** Sunshine Metals SHN.AX falls as much as 6.7% to A$0.014; marks biggest intraday pct fall since August 15

** Gold and copper explorer secures firm commitments for A$5 mln ($3.3 mln) placement at A$0.012/share

** Issue price represents 20% discount to last close

** Funds to be used to complete gold study at Liontown Au in Queensland, others

** Largest shareholder, Lion Selection, invests A$1 mln in co, raising its stake to 9.2%

** YTD, SHN gains 75%

($1 = A$1.5389)

 (Reporting by Anjali Singh in Bengaluru)

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