Tiger Brokers

BUZZ-Australia's Ore Resources slips on discounted placement

Reuters
Dec 11
BUZZ-Australia's Ore Resources slips on discounted placement 

** Shares of Australia's Ore Resources OR3.AX fall as much as 10.5% to A$0.060, set for their weakest trading session in nearly two months, if current trend holds

** Stock touches its lowest level in three weeks

** The gold and lithium explorer to raise A$7.5 million ($5 million) via issue of 129.3 million shares

** Offer price of 5.8 Australian cents apiece represents a 13.4% discount to co's last close on Monday, before stock went on a trading halt

** Funds from placement to be used for expansion of exploration work programs for 2026 at its Coolgardie Gold Project in Western Australia, among others

** Stock up more than 200% YTD, including day's moves

($1 = 1.5011 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))

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