Australia's Alto Metals drops on plans to raise A$5 mln
24/07/2023 06:09
** Shares of Alto Metals AME.AX down 1.8% at A$0.055,
coming off a two-session trading halt
** Earlier, stock fell as much as 8.9% after the gold miner
said it got firm commitments to raise A$5 mln ($3.4 mln) via a
two-tranche share placement urn:newsml:reuters.com:*:nFWN3980BJ
** Issue price of A$0.052/shr is 7.1% discount last traded
price on July 19
** Funds to accelerate exploration at Sandstone gold project
in Western Australia
** Stock now down ~18% so far this year
($1 = 1.4859 Australian dollars)
(Reporting by Archishma Iyer)
((Archishma.Iyer@thomsonreuters.com;))