Australia's Monger Gold falls on discounted placement

Loyal Metals

27/10/2022 04:28

** Shares of Monger Gold Ltd  MMG.AX  fall as much as 12.5%
to A$0.420, their biggest intraday pct fall since Oct. 3
    ** The Australia-based gold and lithium miner to raise A$4.5
mln ($2.92 mln) at an issue price of A$0.40 per share, a 16.7%
discount to the stock's last close on Oct. 20  urn:newsml:reuters.com:*:nASXb04Ppq
    **Co adds funds raised will be used for exploration field
works at both the Brisk Lithium and newly acquired Trieste
Lithium Projects in James Bay, potential additional
acquisitions, drilling at the Scotty Lithium Project in Nevada
and general working capital
    ** Stock hits lowest since Oct. 17 
    ** Stock has risen 128.6% this year, as of last close    
($1 = 1.5404 Australian dollars)
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))