Australia's Jindalee Resources hits 2-1/2-yr low on discounted capital raising

Jindalee Lithium

16/10/2023 01:15

** Shares of Jindalee Resources  JRL.AX  slip as much as
18.6% to hit their lowest level since Feb 19, 2021
    ** The lithium miner says it is undertaking a capital
raising to raise up to A$5.5 mln ($3.47 mln)
    ** Issue price of A$1.40 per share is at an 18.6% discount
to last close on Oct 11 
    ** Says funds raised to be used to advance exploration and
development of McDermitt lithium project, among others 
    ** Shares post their biggest intraday pct loss since April
12, 2021
    ** JRL stock down 8.8 YTD, as of last close 

    
    ($1 = 1.5848 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))