Australia's Victory Metals slips on discounted placement

Victory Metals

26/08/2025 04:00

** Victory Metals VTM.AX slips as much as 10.8% to A$1.41, lowest since August 8

* Heavy rare-earth miner receives firm commitment of A$11.5 mln ($7.5 mln) via placement

** Issue price of A$1.35 represents a 14.6% discount to last close

** Funds raised to be used in target drilling of ultra-high heavy rare-earth zones within and surrounding North Stanmore area, Western Australia, others

** About 1.1 million shares traded, ~3x the 30-day avg

** VTM last down 8.2%, but surges 258% YTD

($1 = A$1.5389)

 (Reporting by Ananya Verma in Bengaluru)

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