Australia's Mayur Resources climbs to 2-month low on discounted placement

Pacific Lime and Cement

15/03/2024 24:43

** Shares of Australia's Mayur Resources  MRL.AX  fall as
much as 17% to A$0.195, their lowest level since Jan 17
    ** Stock posts its biggest intraday pct fall since Feb 21
    ** Stock set for a third consecutive weekly drop, if losses
hold 
    ** The natural resources developer receives firm commitments
to raise A$9.5 mln ($6.24 mln) via placement
    ** Placement at issue price of A$0.2 CDI (chess depository
interests), representing discount of 14.9% to stock's last
closing
    ** Issue of 47.5 mln shares represent ~0.3% of co's free
float of 163.9 mln shares - LSEG data
    ** Stock up 20.5% YTD, as of last close
    
    ($1 = 1.5221 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))