Australia's Infinity Mining drops ~24% on discounted placement

Infinity Mining

14/10/2024 03:30

** Shares of Infinity Mining  IMI.AX  fall as much as 23.7%
to A$0.029; on track to log biggest intraday drop since Oct. 3
    ** Diversified miner gets commitments to raise A$2 mln ($1.3
mln) through new fully paid ordinary shares at A$0.019, a 50%
discount to last close on Oct. 11
    ** Stock hits lowest since Oct. 3
    ** Around 581,471 shares traded vs 30-day avg of 303,631
shares
    ** IMI down 78% YTD

($1 = A$1.4857)

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