Australia's Mamba Exploration hits 1-month low on discounted placement

Mamba Exploration

08/02/2024 24:10

** Shares of Mamba Exploration  M24.AX  fall as much as
15.1% to 0.045, their lowest level since Jan 10 
    ** The mineral explorer says it has completed a share
placement to raise A$2.75 mln ($1.79 mln)
    ** Issue price of A$0.025 per share is at a 52.8% discount
to last close on Feb 7 
    ** Says funds raised to be used for exploration at the
Canary project, among others 
    ** Shares post their biggest intraday pct loss since Feb 1 
    ** M24 up ~6% YTD, as of last close 
    
    ($1 = 1.5342 Australian dollars)

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