Australia's Metalicity falls on discounted placement

Arika Resources

31/07/2024 06:50

** Shares of Metalicity  MCT.AX  fall as much as 33.3% to
A$0.002; set to lose most since July 24 - if current trend holds
    ** The mineral explorer receives commitments to raise A$1
million ($648,100.00) at issue price of A$0.002 per share
    ** Co says, issue price is at 33.3% discount to stock's last
close
    ** Stock is up 50% this year, as of last close

($1 = 1.5430 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))