Australia's Cufe slides on discounted placement

Cufe

20/05/2024 03:59

** Shares of Cufe  CUF.AX  fall as much as 9.5% to A$1.00,
set for worst day since April 17, if losses hold
    ** Iron-ore miner says it has received commitments to raise
A$3 million ($2.01 million)
    ** Issue price of A$0.016 per share is at a 15.8% discount
to stock's last close
    ** Funds to be used to advance copper, niobium and lithium
exploration targets - co
    ** Stock hits lowest level since May 13
    ** About 8.4 mln shares change hands, compared with the
30-day average volume of 3.1 mln shares    
    ** CUF up ~35.7% YTD, as of last close

($1 = 1.4930 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))