Australia's Mont Royal Resources slides on discounted placement

Mont Royal Resources

16/11/2021 03:20

** Shares of Mont Royal Resources Ltd  MRZ.AX  plunge as
much as 11.11% after co announces share placement at discounted
price 
    ** The gold and copper miner said it received firm
commitments to raise A$4 million ($2.94 million)(before costs)
at A$0.20 per share  urn:newsml:reuters.com:*:nASX1TxfR0
    ** Placement price is an almost 56% discount to Thursday's
close of A$0.45
    ** Proceeds will be used to fund exploration at the Northern
Lights Assets and the Wapatik project in Quebec, Canada 
    ** Trading of stock halted on Friday pending the
announcement 
    ** About 159,000 shares have changed hands, almost six times
the 30-day average 
    ** MRZ up 66.67% year to date as of Thursday's close 
    



($1 = 1.3585 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))