Australia's Mincor Resources slides on discounted placement

Mincor Resources NL

13/12/2022 02:54

** Shares of Mincor Resources NL  MCR.AX  fall as much as
10.7% to A$1.415, biggest intraday pct drop since Oct 28
    ** The nickel miner says it has received firm commitments
for A$55 mln ($55.00 mln) share placement, before costs 
    ** Issue price of A$1.39 per share is at a 12.3% discount to
last close on Dec 8
    ** Says to use proceeds to accelerate underground
development at its Northern Operations, among others
    ** Shares touch their lowest level since Nov 04
    ** Stock has fallen 11.2% this year, as of last close($1 =
$1.0000)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))