Australia's Future Battery Minerals hits 16-mth high on oversubscribed placement

Ore Resources

15/09/2023 01:49

** Shares of Future Battery Minerals  FBM.AX  rise as much
as 34.8% to A$0.155, highest level since April 20, 2022
    ** Minerals explorer says it recieved firm commitments for a
heavily oversubscribed A$7.6 million ($4.90 million) placement
    ** Placement at an issue price of A$0.10 per share, a 16.7%
discount to stock's last close
    ** Funds will be utilised to accelerate exploration drilling
programmes at lithium projects in WA and Nevada - co
    ** Stock set for 4th consecutive week of gains and best week
since April 21, if gains hold
    ** Stock set for best day since April 13, if gains hold
    ** 6.3 mln shares change hands, compared with the 30-day
average volume of 1.0 mln
    ** Stock up 125.5% YTD as of last close


($1 = 1.5516 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))