Australia's Woomera Mining falls most in over two years on discounted capital raise

Orbminco

11/10/2022 03:31

** Shares of Woomera Mining  WML.AX  slump as much as 34.8%
to A$0.015, tracking their worst day since Mar 23, 2020
    ** The diversified metals explorer says it has received
binding commitments for a share placement to raise A$1.45
million ($908,135)
    ** Also announces a pro-rate entitlement offer to raise upto
A$2.03 million ($1.27 million)
    ** Co says proceeds raised will be used to fund exploration
of its lithium projects, among others 
    ** Issue price of capital raise A$0.013 per share is at
43.5% discount to previous closing price on Oct. 6
    ** Stock hits lowest since Oct. 6 
    ** Stock has risen 35.3% this year, as of last close
($1 = 1.5959 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))