Australia's Nexus Minerals falls on discounted placement

Nexus Minerals

20/09/2022 02:27

** Shares of Nexus Minerals  NXM.AX  fall as much as 7% to
A$0.200, set for their worst day in a week, if losses hold 
    ** The gold explorer says it has received commitments to
raise about A$5 mln ($3.36 mln) via a share placement 
 urn:newsml:reuters.com:*:nFWN30Q1YI
    ** Says funds raised will be used to advance exploration
activities at the Wallbrook Gold Project in Western Australia,
among others  
    ** Issue price of A$0.18 per share is at a 16.3% discount to
the last closing price on Sept 15 
    ** Nexus stock down 51.7% this year, as of last close

     ($1 = 1.4874 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))