Australia's MTM Critical Metals falls on discounted placement

Metallium

12/01/2024 24:10

** Shares of MTM Critical Metals Ltd  MTM.AX  fall as much
as 17.4% to A$0.095, their biggest intraday fall since Jan. 3
    ** Co's shares hit lowest level since Jan. 4 
    ** Exploration co to raise A$5 mln ($3.35 mln) through two
tranche placement
    ** Issue price of A$$0.08 per new share is a 30.4% discount
to stock's last close 
    ** Co undertakes non-renounceable entitlement offer to issue
1 new share for every 4 shares held to raise A$2 mln 
    ** Stock declined nearly 14% in 2023 
   


($1 = 1.4943 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))