Australia's Culpeo Minerals slumps on discounted placement

Culpeo Minerals

08/02/2024 24:11

** Shares of Culpeo Minerals  CPO.AX  tank as much as 11.4%
to A$0.062, hitting their lowest in a week 
    ** The copper miner says it has received binding commitments
to raise A$1.71 mln ($1.11 mln) via a share placement  
    ** Funds raised will used for advancing exploration
programmes at Fortuna and Lana Corina projects in Chile 
    ** Issue price of A$0.06 per share is at a 14.3% discount to
the last closing price on Feb 5 
    ** Stock has more than doubled this year, as of last close

    ($1 = 1.5342 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))