Australia's Medallion Metals eyes worst day in 3 mths on discounted placement

Medallion Metals

25/11/2021 02:47

** Shares of Medallion Metals Ltd  MM8.AX  drop as much as
13.3% to A0.195, set for its biggest intraday pct fall since Aug
10 
    ** Gold-focused explorer raises A$4.8 million through
discounted share placement at issue price of 19 Australian cents
apiece  urn:newsml:reuters.com:*:nFWN2SF1CY
    ** The issue price is at a discount of 15.6% to stock's last
close on Monday
    ** Co says capital raised will be used to accelerate
exploration efforts and drill program at its Ravensthorpe gold
project in Western Australia
    ** Stock hits its lowest since Nov 15
    ** As of last close, stock is down 18.2% 

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))