Australia's Charger Metals drops on stock placement

Charger Metals NL

19/09/2022 04:27

** Shares of minerals firm Charger Metals Nl  CHR.AX  fall
as much as 10.7% to A$0.54
    ** Stock on track for their worst day since June 23 if
losses hold
    ** CHR says it has received firm commitments to raise A$5.5
mln ($3.69 mln) before costs via a placement of 11 mln shares
 urn:newsml:reuters.com:*:nASX77zGgp
    ** Issue price of A$0.50 per share represents a ~18%
discount to the stock's last closing of A$0.61
    ** Around 448,000 shares change hands, vs the 30-day average
volume of ~121,000 shares
    ** Stock up 42.4% so far this year, as of last close
 ($1 = A$1.4914)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))