Mt Monger Resources set for worst day on discounted placement

Metallium

01/11/2022 01:11

** Shares of Australia's Mt Monger Resources  MTM.AX  fall
as much as 20.8% to A$0.095, set for worst day, if losses hold
    ** The mineral explorer announces a fully underwritten
non-renouncable entitlement offer to raise about A$1.95 mln
($1.25 mln) urn:newsml:reuters.com:*:nASX6P1LHv
    ** Says entitlement offer at an issue price of A$0.10 per
share, which is at a discount of 16.7% to co's last close
    ** Adds funds raised will be used for co's exploration
programmes, among others
    ** Stock hits its lowest since Aug 10
    ** More than 170,000 shares change hands, compared with the
30-day average volume of 64,483 shares 
    ** Stock down 11.1% this year, as of last close
    ($1 = 1.5623 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))