Australia's Meeka Metals hits near 2-mth low on discounted placement

Meeka Metals

02/10/2023 01:59

** Shares of Meeka Metals  MEK.AX  slip as much as 8.7% to
A$0.042, hitting their lowest level since Aug 4
    ** The gold and rare earth co says it has received firm
commitments to raise A$3.5 million ($2.25 million)
    ** Issue price of A$0.04 per share is at a 13% discount to
last close on Sept 27 
    ** Says funds raised will be used for exploration and
in-fill drilling at the Murchison Gold Project, among others
    ** MEK stock down 32.4% YTD, as of last close 


($1 = 1.5550 Australian dollars)

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