Australia's Mantle Minerals slumps on discounted placement

Mantle Minerals

18/04/2023 06:47

** Shares of Mantle Minerals Ltd  MTL.AX  fall as much as
20% to A$0.002
    ** Mineral explorer says it received commitments to raise
A$1.7 mln ($1.1 mln) via a placement  urn:newsml:reuters.com:*:nASX1XFB2G
    ** Adds, A$1.6 mln will be raised at issue price of A$0.002
per share
    ** Issue price represents a 20% discount to stock's last
close of A$0.0025 on April 13
    ** Co says funds will give certainty to drill its Roberts
Hill gold project in Western Australia this year
    ** More than 19.2 mln shares change hands, vs the 30-day
average of 3.4 mln shares
    ** Stock has been flat this year, as of last close
    
    ($1 = 1.4879 Australian dollars)

 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@thomsonreuters.com))