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Australia's Bubalus Resources falls on discounted placement

By Reuters News01:05 (UTC), 28 October 2026 Updated

** Shares of Bubalus Resources BUS.AX fall as much as 3.6% to A$0.080, their lowest since October 20

** Stock logs its largest intraday pct loss since October 15

** Mineral explorer to raise A$3 million ($2.11 million) via placement at an issue price of A$0.07 per Share

** Issue price represents a discount of 15.6% to stock's last close

** Co says funds will be used to advance the Skyline copper-gold project in western Tasmania

** YTD, stock down 42.9%

($1 = 1.4229 Australian dollars)

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