Australia's Metal Hawk rises on securing funding for WA nickel project
08/10/2021 05:51
** Shares of the mineral explorer MHK.AX rise as much as
26.5% to A$0.62, their biggest intraday pct gain since Sept. 28
** As at 0445 GMT, stock up 22.5% at A$0.600
** Co gets commitments for A$2.4 mln ($1.83 mln) via
placement to fund exploration activities at its Berehaven Nickel
Project in Western Australia urn:newsml:reuters.com:*:nASX6hVNQr
** Placement at issue price of A$0.45 per share, an 8.9%
discount to MHK's last closing price
** Says it will aggressively ramp up exploration drilling at
the project
** MHK had recently discovered high-grade massive nickel
sulphides at the Commodore prospect of the project urn:newsml:reuters.com:*:nASX9w1fdJ
** As of last close, stock more than doubled in value this
year
($1 = 1.3699 Australian dollars)
(Reporting by Himanshi Akhand in Bengaluru)
((Himanshi.Akhand@thomsonreuters.com;))