Australia's Latrobe Magnesium falls most in over 2 wks on discounted placement

Latrobe Magnesium

21/12/2023 24:05

** Shares of Latrobe Magnesium  LMG.AX  fall as much as 5.4%
TO A$0.53, their worst day since Dec. 5
    ** Magnesium producing co completes placement raising A$3.06
million  ($2.06 million)
    ** Adds the issue price of 5 AU cents per share was 7.4%
discount to stock's last closing on Dec. 18
    ** Adds funds will be used to operate Co's magnesium
demonstration plant in Latrobe Valley, Victoria, Australia
    ** Stock hits lowest level since Dec. 7
    ** Stock has fallen 27.3% YTD as of last close

    


($1 = 1.4850 Australian dollars)

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