Australia's GreenX Metals slumps on discounted placement

GreenX Metals

07/03/2023 02:51

** Shares of GreenX Metals  GRX.AX  dip as much as 10.7% to
A$0.665, posting their biggest intraday pct loss since Dec 29
    ** The critical minerals exploration co says it has secured
commitments for 12.4 mln new ordinary shares for gross proceeds
of about A$6.8 mln ($4.59 mln)
    ** Issue price of 55 AU cents is at a 26.2% discount to last
close on March 2
    ** Says proceeds will be used for exploration activities in
Greenland, among others 
    ** Shares touch their lowest level since Dec 30, 2022 and
are on track for a third consecutive session of losses 
    ** Stock has risen 16.4% this year, as of last close

    


($1 = 1.4830 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))