Australia's Aruma Resources drops most in 3-1/2 weeks on discounted placement

Aruma Resources

15/02/2022 24:22

** Shares of Aruma Resources Ltd  AAJ.AX  slide as much as
16.7.8% to A$0.10, their biggest intraday pct gain since Jan 21 
    ** The mineral explorer says it received commitments to
raise up to A$3.1 mln ($2.21 mln) via placement for drilling and
exploration at the Mt Deans Lithium project
    ** Placement at A$0.10 per share, a discount of 16.7% to
stock's closing price of A$0.12 on Feb 11, when it last traded 
    ** Stock up 66.7% this year, as of last close
    

($1 = 1.4019 Australian dollars)

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