Australia's Industrial Minerals falls on discounted placement

Industrial Minerals

31/07/2024 03:57

** Shares of Industrial Minerals  IND.AX  fall as much as
25.9% to A$0.200, set for worst day since Feb 15, if current
trend holds
    ** The critical minerals explorer receives commitments to
raise A$1.9 mln ($1.23 mln) at A$0.20 per share
    ** Co says issue price at 26% discount to stock's last close
    ** Stock is down 64.2% this year, as of last close

   ($1 = 1.5401 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))