Australia's Cohiba Minerals hits over 2-yr low after capital raise plan

Altair Minerals

21/11/2022 04:03

** Shares of Cohiba Minerals Ltd  CHK.AX  fall as much as
16.7% to A$0.0050, their lowest since May 4, 2020 
    ** Miner says co to undertake a share purchase plan to raise
A$2 mln ($1.33 mln) at an issue price of A$0.006 per share  
 urn:newsml:reuters.com:*:nASX4jVv6X
    ** Says capital raised will be used to fund additional
exploration activities at co's assets in south and western
Australia and Queensland 
    ** Co sees biggest intraday fall since Sept. 21
    ** More than 4.69 mln shares change hands vs 30-day average
trading volume of 718,300 shares 
    ** Shares down 57.1% YTD, as of last close 
($1 = 1.5038 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))