Australia's Torque Metals logs sharpest intraday drop in three months on discounted placement
08/10/2026 04:23
BUZZ-Australia's Torque Metals logs sharpest intraday drop in three months on discounted placement ** Shares of Australia's Torque Metals TOR.AX fall as much as 12.2% to A$0.180, their steepest intraday drop since July 7
** Stock hits lowest level since September 30
** Mineral exploration firm says it received firm commitments to raise A$25 million ($17.41 million) through a placement at an offer price of A$0.19 per share
** Issue price represents a 7.3% discount to last closing price
** Proceeds to be used to accelerate growth and discovery at the Ritz Gold Project in Western Australia
** TOR down 34.2% YTD
($1 = 1.4360 Australian dollars)
(Reporting by Keshav Singh Chundawat in Bengaluru)
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