Australia's Mayur Resources slips on discounted placement

Pacific Lime and Cement

21/02/2025 04:54

** Shares of Mayur Resources  MRL.AX  fall 11.4% to A$0.31
    ** Stock slid as much as 14.3% to A$0.3 earlier in the
session, their largest intraday pct drop since Jan 29
    ** The diversified miner receives commitments to raise
around A$100.1 million ($64.03 million) via a placement
    ** The placement issue price at A$0.28 per share, a 20%
discount to stock's last close
    ** Co says funds will be used for developing its Central
Lime project in Papua New Guinea
    ** More than 278,000 shares change hands vs 30-day avg
volume of around 177,000 shares
    ** Stock up 8.8% YTD, including current session's moves

    ($1 = 1.5632 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))