Australia's Meeka Metals loses most in more than 4 years on discounted placement

Meeka Metals

04/11/2024 02:54

** Shares of Meeka Metals  MEK.AX  slide as much as 18.4% to
A$0.071; biggest intraday pct fall since March 18, 2020
    ** Gold and rare earth co gets commitments to raise A$35 mln
($23 mln) at A$0.07, a 19.5% discount to last close
    ** Around 32 mln shares traded in stock's busiest session
since Aug. 10, 2022
    ** MEK gains 85% YTD

($1 = A$1.5145)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))