Australia's Alto Metals sees worst day in near 2 months on discounted placement

Alto Metals

11/11/2021 01:21

** Shares of gold explorer Alto Metals  AME.AX  fall as much
as 8.6% to A$0.096, eyeing their worst day since Sept 13
    ** Co raises A$7 mln ($5.16 mln) to fund exploration and
resource growth at its Sandstone gold project, Western Australia
 urn:newsml:reuters.com:*:nASX8B7xjt
    ** Alto Metals issues 77.8 mln shares, representing 52.6% of
co's free float
    ** Placement price of A$0.09 per share represents a 14.3%
discount on co's last close on Nov 8
    ** Stock hits lowest since Oct 13
    ** More than 1.1 mln shares change hands, compared with the
30-day average volume of about 738,000
    ** Stock, which was on a trading halt since Nov 9, up 12.9%
this year, as of last close
    
    ($1 = 1.3563 Australian dollars)
    

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))