Australia's Anax Metals hits over 4-yr low on discounted placement

Anax Metals

11/10/2024 01:39

** Shares of Australia's Anax Metals  ANX.AX  fall as much
as 16.7% to A$0.015, its lowest level since mid-May 2020
    ** Stock posts its biggest intraday pct fall since Sept 2
    ** Stock on track to record its second straight session of
losses, if trend holds
    ** The mineral explorer gets firm commitments to raise
A$2.54 mln ($1.71 mln) via placement at an issue price of
A$0.015 per share
    ** Issue price at a discount of 16.7% to stock's last
closing
    ** Proceeds from placement to be used for geophysics at Whim
Creek deposit, others
    ** Stock has fallen 50% this year, as of 0032 GMT

($1 = 1.4832 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))