Australia's Minbos Resources plunges on discounted placement

Minbos Resources

16/12/2024 24:46

** Minbos Resources  MNB.AX  slides as much as 17.7% to
A$0.07, lowest since Dec. 4
    ** Co gets firm commitments to raise A$4.4 mln ($2.8 mln)
via placement of new shares
    ** Offer price of A$0.07 a 28.6% discount to Friday's close
of A$0.09
    ** Co will use funds to advance Cabinda Phosphate Project
and Green Ammonia Project
    ** Stock posts biggest intraday pct drop since Oct. 2
    ** MNB down 12.4% this year, as of last close

($1 = A$1.5706)

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Reuters.Briefs@thomsonreuters.com))