Australia's Evolution Energy Minerals falls on discounted placement

Evolution Energy Minerals

10/08/2022 06:59

** Shares of exploration co Evolution Energy Minerals Ltd
 EV1.AX  fall as much as 4.1% to A$0.350, their lowest since
July 6
    ** Co receives commitments to raise A$13 mln ($9.04 mln) via
a two-tranche placement (https://bit.ly/3QyNe9n)
    ** Issue price of A$0.32 per share represents a 12.3%
discount to stock's last closing price 
    ** Says funds raised will be used for front end engineering
design work and an updated definitive feasibility study for the
its Chilalo Graphite Project
    ** As of last close, shares down 17.1% this year


($1 = 1.4376 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))