Australia'S Elmore eyes worst day in over 3 wks on $2.63 mln discounted placement

Elmore

19/12/2022 02:18

** Shares of Elmore Ltd  ELE.AX  falls as much as 5.6% to
A$0.017, their biggest intraday pct fall since Nov. 23 
    ** The mineral processing co says it has made a single
tranche placement to raise A$3.92 mln ($2.63 mln)
    ** Issue price of A$0.016 is at a 11.1% discount to last
close on Dec. 15
    ** Says funds raised to be used for relocation of plant and
equipment for copper cobalt processing at Peko Project, among
others 
    ** ELE has fallen 21.7% this year, as of last close 
($1 = 1.4881 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))