Battery Age Minerals (ASX:BM8) saw its share prices drop as much as 13.3% to A$0.36, reaching the lowest levels seen since June 19.

If the current downward trend persists, the company is set for its largest single-day decline since August 7.

The miner of battery-grade minerals announced a share placement of 352,751 shares aimed at raising A$1 million.

The issue price of A$0.34 per share is strikingly lower than the last closed price of A$0.42, registering a discount of 23.5%.

This provoked more than 352,750 shares to change hands, nearly doubling the average volume seen over the past 30 days.

The stock’s performance overall this year is also bleak, having declining by 17% up until the last closing price.

Battery Age Minerals (ASX:BM8) is a mining company focused on extracting minerals used in batteries.