Australia's Venture Minerals loses most in 2 years over discounted placement

Critica

15/12/2023 02:47

** Shares of Australia's Venture Minerals  VMS.AX  fall as
much as 20% to A$0.008, marking their biggest intraday pct drop
since Sept 2021
    ** VMS stock at its lowest level since Nov 6
    ** The mineral explorer says it received commitments to
raise A$2 mln ($1.34 mln) through a single-tranche placement
    ** Adds placement at an issue price of A$0.0075 per share,
representing a discount of 25%
    ** Issue of 266.7 mln shares represent a 0.2% of co's free
float of 1.55 bln shares - LSEG data
    ** About 5.7 mln shares change hands, vs 30-day average
volume of 2 mln shares
    ** Stock set for its second consecutive weekly loss, if
current trend continues 
    ** Venture Minerals stock down 56.5%, YTD 

   ($1 = 1.4916 Australian dollars)

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