Ferro-Alloy Resources plummets on discounted share placement

Ferro-Alloy Resources

15/09/2022 10:54

** Shares of Ferro-Alloy Resources Ltd  FARF.L  down 16.2%
at 12.25p, the biggest intraday pct loss in nine months
    ** The Guernsey-based holding co to raise $10 mln via share
placement
    ** Price of 12p represents a 17.8% discount to the stock's
closing price on Wednesday
    ** Co says it was impacted by supply chain issues, caused by
the Ukraine war and the aftermath of the COVID-19 pandemic 
 urn:newsml:reuters.com:*:nTUC9PBVHC
    ** Co expects continued disruption to its delivery schedule
due to supply snarls; adds that uncertainty remains and will
have an impact on H2 outcome 
    ** Posts H1 revenue of $3.9 mln, compared with $1.5 mln last
year
    ** As of last close, Ferro-Alloy stock down ~50.8% YTD

 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))