Australia's Emmerson Resources falls on discounted share placement

Emmerson Resources

14/04/2022 02:24

** Shares of gold and copper explorer Emmerson Resources
 ERM.AX  fall as much as 14.3% to A$0.120, on track for their
worst day since Jan 25, if losses hold 
    ** Co raises A$5 mln ($3.73 mln) at an issue price of
A$0.115 per share, a 17.9% discount to its close on April 11,
when the stock last traded before going into a trading halt  
 urn:newsml:reuters.com:*:nASX6fJ4Rr
    ** Stock hits lowest since March 28 and on track for a
second straight session of losses
    ** Stock down ~3.5% this year, as of last close 

     ($1 = 1.3408 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))