Australia's Trigg Minerals eyes worst day in over 3 months on discounted placement

American Tungsten & Antimony

03/10/2022 03:08

** Shares of Australia's Trigg Minerals  TMG.AX  fall as
much as 10.3% to A$0.061, their lowest since Sept. 28
    ** Shares tank as the Sulfate of Potash projects explorer
announces 1-for-3 Renounceable Rights Issue to raise up to A$2.8
million ($1.80 million)  urn:newsml:reuters.com:*:nASX9dwD3p
    ** Says rights issue priced at A$0.05 per share, which as at
a discount of 26.5%, to co's last close of A$0.068
    ** Adds funds will be used to progress the Pre-Feasibility
Study (PFS) for the Lake Throssell Project in  Western
Australia, among others
    ** Stock posts its biggest intraday pct fall since June 24
    ** Stock has fallen 31.6% this year, as of last close
($1 = 1.5523 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))