AusQuest Raises AU$10 Million Through Share Placement; Shares Tumbled 12%

MT Newswires Live

Dec 05, 2025

AusQuest (ASX:AQD) has secured firm commitments to raise around AU$10 million before costs by issuing 212.8 million new shares at AU$0.047 each, reflecting a 5% discount to the company's 10-day volume-weighted average price, according to a Friday filing with the Australian bourse.

The funds will be used primarily to accelerate and expand the stage 3 reverse circulation drilling program at the Cangallo Project in Peru, in addition to supporting general working capital needs, the filing added.

The company's shares plunged around 12% in recent Friday trade.

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