Australia's Mayur Resources drops on discounted placement

Pacific Lime and Cement

20/12/2021 04:23

** Shares of Mayur Resources Ltd  MRL.AX  fall as much as
11.4% to A$0.195
    ** The minerals explorer says it completed financing of
A$5.85 mln ($4.16 mln) through a share placement and a loan
facility  urn:newsml:reuters.com:*:nFWN2T400J
    ** Co says placement to raise A$2.85 mln was done at A$0.20
per share, a discount of 9% to co's last close on Dec 15; shares
had been on a trading halt since 
    ** Around 14.3 mln shares being placed represent 6.4% of
co's current free float
    ** MRL says funds raised will be used for multiple projects
like accelerating co's Carbon Credit Estate projects, Central
Cement and Lime project, among others
    ** Stock has fallen 40.5% this year, as of last close

($1 = 1.4047 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))