Australian Potash eyes worst session in 18 mths on discounted placement

APC Minerals

02/11/2021 24:54

** Shares of Australian Potash  APC.AX  tank as much as
18.3% to A$0.094, their biggest intraday drop since May 5, 2020 
    ** The nickel and potash miner says to raise A$12 mln 
($9.03 mln) via a two-tranche placement to advance Lake Wells
Sulphate of Potash project in Western Australia  urn:newsml:reuters.com:*:nASX5sM5kp
    ** Placement at an issue price of A$0.08/share, a discount
of 30.4% to stock's closing price on Oct. 28, when it last
traded
    ** Stock hits its lowest since Oct. 12
    ** About 4.2 mln shares change hands, vs the 30-day average
volume of ~1.1 shares
    ** APC stock down 14.8% this year as of last close

($1 = 1.3294 Australian dollars)
    
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))