Australia's Woomera rises on placement to advance WA lithium projects

Orbminco

01/11/2023 24:52

** Shares of Woomera Mining  WML.AX  rise as much as 22.2%
to A$0.011 in their biggest intraday pct jump since Aug. 15
    ** Mineral explorer to raise up to A$2.3 mln ($1.46 mln)
through placement at an issue price of A$0.009, same as last
close
    ** Says proceeds will be used to advance its Ravensthorpe
lithium projects in Western Australia 
    ** Says drilling at Ravensthorpe projects expected to
commence in late November 2023 
    ** Co's shares hit highest level since Oct. 11 
    ** About 2.7 mln shares change hands, compared with the
30-day average trading volume of 1.2 mln shares 
    ** WML down ~53% YTD, as of last close 
   
($1 = 1.5805 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))