Australia's Eagle Mountain Mining falls to record low on discounted placement

Eagle Mountain Mining

16/12/2024 01:10

** Eagle Mountain Mining  EM2.AX  plunges as much as 21.4%
to a record low of A$0.011
    ** Copper-gold miner to raise A$6.4 mln ($4.1 mln) through
new shares to reduce debt, review new opportunities and fund
explorations
    ** Issue price of A$0.008 a 46.7% discount to Friday's close
    ** Stock posts biggest intraday pct fall since Nov. 25
    ** About 3.8 mln shares traded vs the 30-day avg of 1.2 mln
    ** EM2 down 83.2% YTD

($1 = A$1.5708)

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