Australia's EV Resources tumbles on discounted placement

Antimony Resources

28/02/2024 02:29

** Shares of EV resources  EVR.AX  fall as much as 21.4% to
A$0.011, set for worst day since Dec. 7, 2023 - if losses hold  
  
    ** Copper explorer says it has received commitments for
A$1.9 mln ($1.24 mln) placement    
    ** Issue price of A$0.013 per share represents more than 7%
discount to stock's last close
    ** Funds will be used to continue drilling programme at
Parag copper-molybdenum project in Peru, among others - co
    ** Stock hits lowest level since Feb. 9
    ** About 3.8 mln shares change hands, compared with the
30-day average volume of 1.9 mln 
    ** Stock up 27.3% YTD, as of last close

($1 = 1.5312 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))