Australia's Copper Search falls on discounted placement

Altitude Minerals

30/05/2024 02:23

** Shares of Copper Search  CUS.AX  fall as much as 22.2% to
A$0.105, set for their worst day since Nov. 16, 2023 - if losses
hold 
    ** Stock hits its lowest level since May 20 
    ** Mineral explorer says to raise A$2 mln ($1.32 mln) at 10
au cents per share through a private placement
    ** Offer price at a discount of 25.9% to CUS' last closing
price
    ** About 244,651 shares change hands, compared with the
30-day average volume of 86,398
    ** Stock has risen 22.7% this year as of last close


($1 = 1.5115 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))