Australia's Impact Minerals falls on share placement

Impact Minerals

26/04/2022 03:55

** Nickel miner's shares  IPT.AX  sink as much as 13.3% to
A$0.013, set for biggest intraday fall since March 11
    ** Company says it is undertaking a one-for-four 
renounceable rights issue to raise up to A$6 mln ($4.32
mln) urn:newsml:reuters.com:*:nL5N2WN64E
    ** Issue price of A$0.011 is a 27% discount to IPT's last
close on Friday
    ** Company says funds raised will be used to complete
early-stage explorations programmes at Arkun project in Western
Australia, among others
    ** Stock up 15.4% so far this year, as of last close
    
 ($1 = 1.3897 Australian dollars)

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com))