Australia's Coda Minerals drops to near 2-week low on discounted placement

Coda Minerals

26/03/2024 24:37

** Shares of Coda Minerals  COD.AX  fall as much as 27.6% to
A$0.105, their lowest level since March 13 
    ** The mineral explorer to raise A$2.77 mln ($1.81 mln)
through a placement
    ** Issue price of A$0.09 per share represents a near 38%
discount to stock's last close 
    ** Co says placement to support exploration and feasibility
at its Elizabeth Creek copper project in South Australia
    ** About 435,048 shares change hands, compared with 30-day
average trading volume of 124,065 shares 
       
    ($1 = 1.5302 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))