Australia's Brazilian Critical Minerals hits nearly 9-year low on discounted placement

Brazilian Critical Minerals

10/10/2024 24:37

** Shares of Australia's Brazilian Critical Minerals
 BCM.AX  fall as much as 23.1% to A$0.010, their lowest level
since December 2015
    ** Stock posts its biggest intraday pct fall June 2022
    ** Diversified miner announces placement and rights issue to
raise A$3.5 mln ($2.35 mln) at an issue price of A$0.01 per
share
    ** Issue price at a discount of 23.1% to stock's last
closing
    ** Funds raised will be utilised to fund progression of co's
Ema Rare Earth project in Brazil - co
    ** Stock had fallen 61.5% this year by 2331 GMT

($1 = 1.4896 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))