Australia's Zeotech slips to near 4-week low on discounted placement

Zeotech

29/09/2025 02:01

** Shares of Australia's Zeotech ZEO.AX fall as much as 9.5% to A$0.086, their lowest since September 3

** Stock posts its biggest intraday pct loss since September 9

** Mineral processing technology firm receives firm commitments to raise A$13 million ($8.52 million) at a price of A$0.08 per share

** Issue price represents a 20% discount to stock's last close

** Proceeds will be used for starting mining operations at Toondoon kaolin mining project, Queensland and progressing a definitive feasibility study with the AusPozz kaolin processing project in Queensland, among others - Zeotech

** ZEO stock has more than doubled in value so far this year

($1 = 1.5260 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))