Australia's Eagle Mountain Mining hits near 1-year low on discounted placement

Eagle Mountain Mining

24/03/2022 02:56

** Shares of copper explorer Eagle Mountain Mining  EM2.AX 
fall as much as 6.8% to A$0.448, hitting lowest level since
March 2021
    ** Co announces A$16 mln ($11.99 mln) capital raise to fund
exploration activities at Oracle Ridge mine in Arizona, U.S.
 urn:newsml:reuters.com:*:nASX1N3XBH
    ** Issue price of A$0.45/share represents a discount of 6.2%
to its last close
    ** More than 1.6 mln shares change hands, compared with the
30-day average volume of about 343,000 shares
    ** Stock was on trading halt since March 23; fallen 19.3%
this year, as of last close,

($1 = 1.3348 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))