Australia's Kopore Metals drops most in 2 weeks on discounted placement

Barys Resources

09/12/2021 01:47

** Shares of Australian metals explorer Kopore Metals
 KMT.AX  drop as much as 8.8% to A$0.031, see worst day since
Nov 23  
    ** Co announces capital raise of A$1.2 mln ($860,040.00) at
A$0.03 per share to fund acquisition of a uranium mine in Niger
 urn:newsml:reuters.com:*:nASX9gMj5x 
    ** Placement price is at an 11.8% discount to KMT's last
close of A$0.034 on Monday
    ** Co to pay $100,000 in cash and issue 120 mln shares to
previous owner Endeavour Financial AG at A$0.02 per share
    ** Stock hits lowest level since Nov 23
    ** KMT has doubled in value so far this year, as of last
close 
    

($1 = 1.3953 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))