Australia's WA1 Resources slumps on discounted placement

WA1 Resources

15/08/2025 03:45

** Shares of WA1 Resources WA1.AX fall as much as 17.4% to A$16, on track for their biggest intraday pct drop since November 3, 2022, if current losses hold

** Stock hits its lowest level since August 4

** Diversified miner receives firm commitments to raise A$100 million ($64.88 million) via placement

** Issue price of A$17 per share represents a discount of 12.1% to last close

** Funds to be used towards pre-development and permitting activities for Luni Niobium Project, Western Australia

** More than 767,750 shares change hands, 4.5x the 30-day average

** Stock up 26.5% YTD, including day's move

($1 = 1.5413 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

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