Australia's Norwest Minerals slumps on discounted placement
16/07/2024 01:34
** Shares of Norwest Minerals NWM.AX slump as much as
11.1% to A$0.032, set for their worst day since June 20 - if
losses hold
** The diversified miner says it has received firm
commitments to raise about A$2.5 million ($1.69 million) via a
share placement
** Issue price of A$0.026 is at a 27.7% discount to the last
traded price on July 11
** Funds raised will be used to advance Bulgera Gold and
Bali Copper projects in Western Australia; among others
** Stock has risen ~33.3% this year as of last close
($1 = 1.4802 Australian dollars)
(Reporting by Archishma Iyer)
((Archishma.Iyer@thomsonreuters.com;))