Australia's Metal Bank falls most in almost 3 months on discounted placement

Metal Bank

05/09/2023 02:30

** Shares of Metal Bank Ltd  MBK.AX  fall as much as 13.3%
to A$0.036, post their biggest intraday pct drop since June 14 
    ** The copper and gold miner announces capital raising of
A$2.65 mln ($1.71 mln) 
    ** The offer price of A$0.034 per share represents a 24.4%
discount to the stock's last closing price on Sept 1
    ** Co says proceeds will be used to further exploration
projects in Jordan and Australia, and working capital
    ** Stock at lowest level since Aug 29
    ** MBK stock down 32.4%, as of last close

    ($1 = 1.5511 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))