Australia's King Island Scheelite hits over 8-month low on discounted placement

Group 6 Metals

04/10/2021 01:49

** Shares of Australia's King Island Scheelite  KIS.AX 
slide as much as 8.82% to A$0.155 after announcing a discounted
placement; hit lowest since Feb. 3 
    ** Tungsten producer says received firm commitments to raise
A$31 mln ($22.53 mln) at A$0.14 a piece, shares closed at A$0.17
on Thursday  urn:newsml:reuters.com:*:nASX60QQB4 
    ** Trading of stock halted on Friday pending announcement 
    ** About 1.3 mln shares have been traded, compared to the
30-day average of about 482,000 shares 
    ** KIS down 70% this year as of Thursday's close 
    



($1 = 1.3757 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))