Australia's Firefly Metals falls on discounted placement

Firefly Metals

26/09/2024 01:59

** Shares of FireFly Metals  FFM.AX  fall as much as 6.7% to
A$0.975, set to lose most since Sept 4 - if current trends hold
    ** Diversified miner receives commitments to raise A$65
million ($44.41 million) at an issue price of A$0.95 per share
    ** Co says issue price is at 9.1% discount to stock's last
close
    ** Says proceeds will be used to develop works at Green Bay
copper-gold project in Canada
    ** Stock hits its lowest level since Sept 19
    ** Stock is up 59% YTD as of 0049 GMT


($1 = 1.4635 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))