Australia's Coda Minerals set for worst day since Aug on discounted placement

Coda Minerals

26/10/2022 01:51

** Shares of Australia's Coda Minerals  COD.AX  fall as much
as 11.1% to A$0.28, set to drop most since Aug 18, if losses
hold
    ** The mineral explorer receives firm commitments to raise
A$3.85 mln ($2.46 mln) urn:newsml:reuters.com:*:nASX5pVH6t
    ** Says placement at an issue price of A$0.24 per share,
which is at a discount of 23.8% to co's last close
    ** Adds funds will be used to fast-track final stages of
study work at Elizabeth Creek copper-cobalt project in South
Australia's Olympic Copper Province
    ** Coda stock down 66.8% this year, as of last close
     ($1 = 1.5672 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))