Australia's Aurora Energy Metals hits record low on discounted placement

Aurora Energy Metals

24/05/2023 01:58

** Shares of Aurora Energy Metals Ltd  1AE.AX  dip as much
as 15.6% to a record low of A$0.076
    ** The uranium miner says it has received binding
commitments to raise about A$2.7 mln ($1.83 mln) before costs
through a placement 
    ** Issue price of A$0.075 is at a 16.7% discount to stock's
last close on May 19
    ** Says proceeds from the placement will be used to compete
a uranium scoping study on co's Aurora Energy Metals project
    ** Shares post their biggest intraday pct fall since March
10
    ** 1AE stock down 40% YTD, as of last close 
    
     ($1 = 1.4743 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))