Australia's Sunstone Metals hits one-year low on share placement

Sunstone Metals

29/06/2026 06:41

** Sunstone Metals' STM.AX shares fall as much as 17.1% to A$0.17, lowest since March 20, 2025
** Company's shares log steepest intraday pct loss since March 19
** Mineral explorer raises A$10 million ($6.89 million) through share placement
** Issue price of A$0.175/shr represents a discount of 17.1% to stock's last close
** Proceeds will be used to continue growing Sunstone's Bramaderos and El Palmar gold-copper projects in Ecuador
** About 3 million shares change hands, 5.8 times the 30-day avg - LSEG data
** STM down ~71% YTD, including the session's move
     
($1 = 1.4514 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)
 ((anjali.singh2@thomsonreuters.com;))