Australia's Metro Mining slips on discounted placement

Metro Mining

02/05/2024 02:02

** Shares of Metro Mining  MMI.AX  fall as much as 10.9% to
A$0.041, set to lose most since Oct. 24 - if current trends hold
    ** Miner received commitments to raise A$40 million ($26.09
million) placement at issue price of A$0.041 per new share
    ** Co says issue price is at a 10.9% discount to the last
closing price
    ** Stock hits its worst level since April 19
    ** 88.4 mln shares change hands, compared with the 30-day
average volume of 12.1 mln shares
    ** Stock has risen over 95% this year as of last close


($1 = 1.5333 Australian dollars)
    

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