Australia's Koba Resources climbs on premium capital raise

Koba Resources

23/02/2023 03:52

** Shares of Koba Resources  KOB.AX  jump as much as 14.3%
to A$0.160, posting their biggest intraday pct gain since Feb. 2
    ** The cobalt explorer says it has received firm commitments
for a placement to raise A$4 million ($2.73 million)
    ** Issue price of A$0.15 per share is at a 7.1% premium to
last close on Feb. 20
    ** Says funds raised to be primarily used to expedite
exploration at co's lithium-pegmatite projects in Canada
    ** Stock has remained flat this year, as of last close 
($1 = 1.4633 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))