Australia's gold and lithium miner Firefinch falls on discounted placement

Firefinch

13/12/2021 02:42

** Shares of Firefinch Ltd  FFX.AX  fall as much as 10.6% to
A$0.675, hitting their lowest since Nov. 30
    ** Gold and lithium miner says it raised A$100 mln ($71.66
mln) by issuing 149.3 mln news share via placement urn:newsml:reuters.com:*:nFWN2SW068
    ** Issue price of A$0.67/share represents a discount of
11.3% to stock's closing price on Wednesday after which it went
into a trading halt 
    ** Co says funds raised will be used to increase gold
production at the Morila gold mine in West Africa, among others 
    ** Stock heads for its worst day since Dec. 6 
    ** About 18.6 mln shares change hands, compared with the
30-day average volume of 8.8 mln 
    ** As of last close, stock had tripled in value this year

($1 = 1.3955 Australian dollars)

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))