Australia's Noronex hits over 3-week low on discounted placement
18/11/2022 24:45
** Shares of Noronex Ltd NRX.AX drop as much as 9.7% to
A@0.028, lowest since Oct 27
** Copper miner says it has received firm commitments to
raise A$1.5 million ($1.00 million)
** Issue price of A$0.025 per share is at a 19.4% discount
to last close on Nov 15
** Says funds raised to be used to accelerate drilling and
exploration activities on its copper projects in Namibia
** Biggest intraday pct loss since Nov 11
** Stock down 9.7% so far this week, lowest since Oct 21
** Stock has gained 61.3% this year as of last close
($1 = 1.4939 Australian dollars)
(Reporting by Echha Jain in Bengaluru)
((Echha.jain@thomsonreuters.com))