Alto Metals eyes worst day in over 3 months on discounted placement
03/11/2022 24:50
** Shares of Australia's Alto Metals AME.AX fall as much
as A$0.067, set to lose the most since Aug. 1, if losses hold
** Gold explorer confirms A$3 million ($1.90 million)
placement and A$1 mln share purchase plan urn:newsml:reuters.com:*:nASXc6MSWb
** Says placement at an issue price of A$0.065 per share,
which is at a discount of 13.3% to co's last close
** Says new shares issued under share purchase plan shall be
issued at same price as new shares under placement
** Adds proceeds of placement and share purchase plan to be
primarily used to continue ongoing resource drilling at co's
Indomitable East prospect, among others
** Stock hits its lowest since Oct. 4
** Stock is down 22.7% this year, as of last close
($1 = 1.5793 Australian dollars)
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))