Australia's AIC Mines sees worst day since July on discounted placement

AIC Mines

08/02/2023 24:24

** Shares of AIC Mines  A1M.AX  fall as much as 8.2% to
A$0.450, see their worst day since July 6 - if losses hold 
    ** The copper miner says it has received firm commitments to
raise A$30 million ($20.87 million) via a two-tranche share
placement  urn:newsml:reuters.com:*:nFWN34N2BU
    ** Says proceeds will be used to fund initial work related
processing plant expansion at the Eloise copper mine in
Queensland, among others  
    ** Issue price of A$0.45 per share is at an 8.2% discount to
the last closing price on Feb 3 
    ** Shares hit lowest since Feb. 1 
    ** Stock has risen ~14% this year, as of last close
($1 = 1.4374 Australian dollars)
 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))