Australia's Verity Resources slumps on discounted placement

Verity Resources

04/09/2025 02:29

** Shares of Verity Resources VRL.AX fall as much as 17.9% to A$0.023, post their biggest intraday pct loss since December 9, 2024

** Stock hits its lowest level since August 22

** Diversified miner raises A$3 million($1.95 million) via two-tranche placement

** Issue price of A$0.024 per share represents a discount of 14.3% to stock's last close

** Co says funds will be used to accelerate Monument Gold Project resource upgrade, located near Laverton in Western Australia

** About 3.6 mln shares change hands, 2.7x the 30-day average

** YTD stock up 23.2%, including current session's move

($1 = 1.5389 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))