Australia's Global Lithium Resources falls on discounted placement

Global Lithium Resources

26/10/2022 04:36

** Shares of Global Lithium Resources Ltd  GL1.AX  fall as
much as 10% to A$2.350, mark their biggest intraday percentage
fall since June 14 
    ** The Australia-based lithium miner raised A$111.4 mln
($71.15 mln) at an issue price of A$2.25 per share, a 13.7%
discount to the stock's last close on Oct 24  urn:newsml:reuters.com:*:nASX1rBHLf
    ** Co says funds from placement will be applied towards
exploration at Manna and Marble Bar lithium project 
    ** Manna is an outcropping pegmatite exploration project in
Western Australia
    ** Global Lithium stock hits lowest since Oct 17 
    ** More than 2.1 mln shares change hands, vs the 30-day
average volume of 1.1 mln shares
    ** Stock up 174.7% this year, as of last close
  ($1 = 1.5657 Australian dollars)
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))