Australia's West Coast Silver tumbles on discounted placement

West Coast Silver

01/09/2026 02:12

** Shares of Australia's West Coast Silver WCE.AX fall as much as 13% to A$0.100, marking their biggest intraday pct loss since June 10
** Stock was on trading halt since August 28 
** Shares hit their lowest level since August 17
** Diversified miner announces A$6 million ($4.31 million) placement at A$0.095 per share, a 17.4% discount to stock's last close
** Says proceeds will be used for exploration and development drilling at Elizabeth Hill South and West project in Western Australia, among others 
** Nearly 2.4 mln shares change hands, about 2.5x the 30-day average 
** YTD, stock down 51.1%, including session's moves 

($1 = 1.3933 Australian dollars)

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((Subhalakshmi.Dey@thomsonreuters.com;))