Australia's Surefire Resources hits seven-week low on discounted entitlement offer

Surefire Resources NL

26/05/2025 05:23

** Shares of Australia's Surefire Resources SRN.AX fall as much as 33.3% to A$0.002, its lowest level since April 7

** Mineral explorer to raise A$3.9 million ($2.54 million) via entitlement offer at an issue price of A$0.002 per share

** Issue price represents a 33.3% discount to stock's last closing

** Funds from entitlement offer to be used for developing co's Yidby Gold and Copper Hill project

** Trading volume at 11.7 million shares, 6x the 30-day average

** Stock flat this year, as of last close

($1 = 1.5342 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))