Australia's Auking Mining slips to over 2-month low on discounted placement

Auking Mining

20/04/2022 03:29

** Shares of Auking Mining  AKN.AX  slip as much as 6.3% to
A$0.150, their lowest since Feb 3
    ** The miner has announced a total capital raise of about
A$7.1 mln ($5.26 mln) via a two-tranche share placement and a
non-renounceable rights issue  urn:newsml:reuters.com:*:nFWN2WH1WJ
    ** Says two-tranche share placement will raise A$3.61 mln
    ** Says total funds raised will be used for further drilling
and exploration at Onedin, Sandiego and Emull deposits at
Koongie Park in Western Australia, among others 
    ** Issue price of 14 AU cents per share is at 12.5% discount
to last closing price on April 13
    ** Shares set for worst day since April 7, if losses hold 
    ** Stock up 18.5% this year, as of last close

    ($1 = 1.3510 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))