Australia's Latin Resources hits 3-week low on discounted placements

Latin Resources

23/10/2023 02:36

** Shares of Australian mineral explorer Latin Resources
 LRS.AX  fall as much as 9.4% to A$0.24, lowest level since Oct.
2
    ** Co says received commitments for placing A$35 mln ($22.12
mln)
    ** Issue price of A$0.25 per share represents a discount of
5.7% to stock's last closing 
    ** Issue of 140 mln shares represents 0.06% of co's free
float of 2.12 bln shares - LSEG data 
    ** Co says funds to be used to towards fast-tracking Salinas
Lithium Project in Brazil 
    ** Stock down 170.4% YTD, as of last close

($1 = 1.5820 Australian dollars)

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