Australia's EQ Resources falls most in 1 month on discounted placement

EQ Resources

31/10/2022 02:50

** Shares of EQ Resources  EQR.AX  skid as much as 12.2% to
A$0.043, mark their worst intraday pct loss since Sept 26 
    ** The tungsten explorer says it has received firm
commitments to raise A$4.56 mln ($2.92 mln) via a share
placement  urn:newsml:reuters.com:*:nL8N31V0Z2
    ** Adds capital raised will be used to fund the ongoing Mt
Carbine expansion programme in Queensland 
    ** Issue price of A$0.04 per share is at an 18% discount to
the last closing price on Oct 26, before going on a trading halt
    ** Stock hits lowest since Oct 21
    ** Stock down 15.5% this year, as of last close
    ($1 = 1.5591 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))