Australia's Metallica Minerals slides on discounted placement

Metallica Minerals

30/11/2022 24:47

** Shares of Metallica Minerals Ltd  MLM.AX  fall as much as
15.8% to A$0.032, set to mark their worst day since July 26
    ** Silica sands miner announces fully underwritten
placements of shares to raise ~A$5.1 mln ($3.40 mln)
 urn:newsml:reuters.com:*:nGLFbsV1ZS
    ** The offer price for placement, A$0.0.035, represents a
12.2% discount to co's last closing price of A$0.04 on Nov. 25
    ** Co also announces a non-renounceable pro rata entitlement
offer of ~A$4.5 mln 
    ** Offer price for the entitlement offer: A$0.032,
represents a discount of 18.8% to co's last closing price of
A$0.04 on Nov 25
    ** Stock hits lowest since Sept. 7
    ** More than 4.1 mln shares change hands, over 15 times the
30-day average volume 
    ** Stock up 58.3% this year, as of last close
($1 = 1.4981 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))