Australia's Pacific Nickel Mines slumps on discounted placement

Pacific Nickel Mines

24/04/2023 02:55

** Shares of Pacific Nickel Mines Ltd  PNM.AX  fall as much
as 7% to A$0.093, the biggest intraday pct loss since April 3
    ** The nickel miner says it had successfully placed 29.4 mln
shares to raise A$2.5 mln ($1.67 mln)
    ** Issue price of A$0.085 represents a 15% discount to the
stock's last trade on April 19
    ** Stock hits lowest since April 17
    ** More than 509,707 shares change hands, almost twice the
30-day average volume 
    ** Stock up 20.5% this year, as of last close

    ($1 = 1.4954 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))