Australia's Middle Island Resources hits record low on discounted rights issue

Middle Island Resources

31/10/2023 01:31

** Shares of Middle Island Resources Ltd  MDI.AX  fall as
much as 21.7% to an all-time low of A$0.018
    ** Copper and gold explorer to raise a minimum of A$1
mln($636,800.00), and up to A$1.1 mln via renounceable rights
issue
    ** Issue price of A$0.015 per share represents 34.8%
discount to stock's last close 
    ** Stocks posts biggest intraday pct drop since July 24
    ** About 1.7 mln shares change hands, compared with the
30-day average trading volume of 116,762 shares 
    ** MDI down 42.5% YTD, as of last close 
   
($1 = 1.5704 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))