Tiger Brokers

BUZZ-Australia's Energy Transition Minerals falls on discounted placement

Reuters
Jan 21, 2025

** Shares of Energy Transition Minerals down 4.7% to A$0.081

** Stock falls as much as 11.8% earlier in the day to its lowest level since Jan. 10, down for a third straight session

** Mineral explorer says it intends to raise A$9.35 mln ($5.83 mln) via share placement of 137.5 mln shares

** Issue price of A$0.068 per share represents a discount of 20% to last close

** Co says funds will be used for advancement of the Kvanefjeld Rare Earths Project in Greenland

** About 6.8 mln shares change hands, 1.3x the 30-day avg

** Stock closed flat last year

($1 = 1.6026 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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