Australia's Meteoric Resources falls on discounted placement

Meteoric Resources NL

26/07/2024 02:13

** Shares of Meteoric Resources  MEI.AX  fall as much as
12.5% to A$0.105, their lowest levels since April 13, 2023
    ** The rare-earths explorer receives commitments to raise
A$27.5 mln ($18 mln) at an issue price of A$0.11 per share
    ** Co says issue price is at an 8.3% discount to stock's
last close
    ** Stock set for its worst day since July 9, if current
trend holds
    ** Stock down 53.9% this year, as of last close

   ($1 = 1.5277 Australian dollars)

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