Australia's Tolu Minerals slips on discounted placement

Tolu Minerals

09/10/2025 01:24

** Shares of Australia's Tolu Minerals TOK.AX fall as much as 10.4% to A$1.46; biggest pct fall since May 7

** Gold-silver explorer says it received firm commitments to raise gross proceeds of A$60.5 million ($39.85 million) via placement at A$1.20 per share

** Placement price represents 26.4% discount to co's last closing price

** Proceeds will be used for resource definition and exploration, gold plant refurbishment and technical services, among others

** TOK up 81.7% YTD

($1 = 1.5184 Australian dollars)

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))