Australia's Native Mineral Resources rises on premium placement

Native Mineral Resources Holdings

12/11/2024 01:29

** Shares of Native Mineral Resources  NMR.AX  rise 14.3% to
A$0.040, set for third consecutive session of gains, if current
trend holds
    ** Copper & gold miner says it has received commitments to
raise A$3.5 million ($2.30 million) via the placement of 86.6
mln shares
    ** Issue price of A$0.04 at a ~14% premium to stock's last
close
    ** Co says funds will be used to develop Far Fanning & Black
Jack deposits in Northern Queensland, among others
    ** Over 2.7 mln shares change hands, 3.8x the 30-day avg
    ** Stock has doubled in value YTD, including current
session, as of 0007 GMT


($1 = 1.5223 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com))