Nickel miner Mincor Resources falls most in over 7 months on discounted placement

Mincor Resources NL

07/09/2021 06:46

** Shares of Mincor Resources  MCR.AX  fall as much as 9.4%
to A$1.305, their biggest intraday pct fall since Jan 28
    ** The Australian nickel miner says oversubscribed placement
raised A$60 mln ($44.52 mln); will undertake share purchase plan
to raise additional A$5 mln  urn:newsml:reuters.com:*:nASX6ZjZ1Q
    ** Placement at an issue price of A$1.28 per share, a
discount of 11.1% to stock's closing price on Sept 3, when it
last traded  
    ** MCR says proceeds from capital raising will allow
construction of a modern camp facility near co's Cassini
Operations in WA
    ** Stock at its lowest since Aug 27
    ** More than 2.1 mln shares change hands, vs the 30-day
average volume of 1.1 mln shares
    ** MCR stock up 30.3% this year, as of last close
    
    ($1 = 1.3477 Australian dollars)
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))