Australia's MTM Critical Metals falls on discounted placement

Metallium

16/10/2024 03:32

** MTM Critical Metals  MTM.AX  falls as much as 10.6% to
A$0.076; its biggest intraday pct drop in over a month
    ** Industrial tech co receives commitments to raise A$8 mln
($5.3 mln) via a placement
    ** Issue price of A$0.065 is a ~23.5% discount to stock's
last close
    ** Co says funds will be used to accelerate
commercialization of its flash joule heating technology used in
metal recovery from ores and waste
    ** About 5.4 mln shares traded, ~3x the 30-day avg
    ** MTM up 20.6% YTD
    
($1 = A$1.4945)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))