Metals Australia rises on premium placement

Metals Australia

20/02/2024 23:50

** Shares of Metals Australia  MLS.AX  rise as much as 4.9%
to A$0.032, on track for their best day since Feb 12, if trend
holds
    ** The mineral explorer says A$3.5 mln ($2.29 mln) to be
raised utilising "Flow-Through Shares" provision
    ** Co says shares will be placed at an issue price of
A$0.042 per share, 35.5% premium to stock's last closing price
    ** Stock hits its highest level since Feb 13
    ** About 1.4 million shares change hands, compared with the
30-day average volume of 703,458
    ** Stock has fallen over 17% this year, as of last close

    ($1 = 1.5272 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))