Australia's Venture Minerals hits 13-month low on discounted placement

Critica

10/12/2021 24:20

** Shares of mineral explorer Venture Minerls  VMS.AX  fall
as much as 11.9% to A$0.037, their lowest since Nov. 10, 2020
    ** Co receives commitments to raise up to A$4.25 mln ($3.04
mln) through a placement of 118.1 mln ordinary shares to advance
the feasibility study at its Mount Lindsay Tin-Tungsten Project
in Tasmania  urn:newsml:reuters.com:*:nASX9lQHLn
    ** Issue price of A$0.036 per share represents a 14.3%
discount to co's lasting price
    ** New shares represent 8.5% of shares on issue
    ** Says it will also undertake a share purchase plan to to
raise up to A$1.25 mln at the same issue price as placement
    ** Shares on track for their worst day since Sept. 20
    ** Volumes are 2.8 times the 30-day average of 6.4 mln
shares
    ** As of last close, stock down 23.6% this year

($1 = 1.3994 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))