Australia's Auteco Mineral slips on discounted placement

Firefly Metals

04/09/2023 05:02

** Shares of Auteco Mineral  AUT.AX  fall as much as 3.3% to
A$0.029, declining the most since Aug 11
    ** Gold explorer receives firm commitments for A$55 mln
($35.59 mln) fundraise at an issue price of 2.5 Australian cents
per share 
    ** The price represents a 16.7% discount to co's last close
on Aug 11 
    ** Co says proceeds will be used to fund the acquisition of
Green Bay Copper-Gold Project in Canada 
    ** Nearly 18 mln shares have changed hands, compared with
the 30-day average of 1.8 mln shares 
    ** Stock down 41.2% so far this year, as of last close 
    



($1 = 1.5456 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))