Australia's Suvo Strategic Minerals falls on discounted placement

Green360 Technologies

23/10/2024 02:29

** Shares of Suvo Strategic Minerals  SUV.AX  fall as much
as 5.6% to A$0.051, the lowest since Oct. 4
    ** Stock set to log its biggest intraday pct drop since Oct.
4
    ** Hydrous kaolin producer gets firm commitments to raise
A$2 mln ($1.3 mln) through a placement of 41.7 mln new shares
    ** Issue price of A$0.048 is an 11.1% discount to last close
on Oct. 18, when trading was halted pending capital raise
announcement
    ** About 594,729 shares traded vs the 30-day avg of 479,588 
    ** Stock up 82.1% YTD

($1 = A$1.4988)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))