Australia's Infini Resources falls on discounted placement

Infini Resources

02/08/2024 02:41

** Shares of Australia's Infini Resources  I88.AX  fall as
much as 12.7% to A$0.62, their lowest levels since July 10
    ** Stock posts its biggest intraday pct fall since July 18
    ** The mineral explorer announces A$3.4 mln ($2.21 mln)
placement to fast-track Portland Creek uranium exploration
    ** Placement at an issue price of A$0.60 per share,
representing a discount of 15.5% to stock's last closing
    ** Near 600,000 shares change hands, vs 30-day average
volume of 1.4 mln shares
    ** Stock up around 91% since listing in February, as of last
close

    ($1 = 1.5413 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))