Australia's Boab Metals falls on discounted placement

Boab Metals

27/11/2022 23:57

** Shares of Boab Metals Ltd  BML.AX  fall as much as 1.5%
to A$0.310, their lowest since Nov 18
    ** Precious metals explorer says it raised A$5.5 mln ($3.69
mln)(before costs) to kick-start development of co's flagship
Sorby Hills lead-silver-zinc project located in Western
Australia  urn:newsml:reuters.com:*:nASX2LyWr
    ** Placement price of A$0.28 per share represents a 13.8%
discount to the closing price of the co’s shares on Nov 23
    ** Stock posts its biggest intraday pct fall since Nov 17
    ** Stock has fallen 1.5% this year, as of last close
($1 = 1.4899 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru: editing by Diane
Craft)
 ((Poonam.Behura@thomsonreuters.com;))