Australia's Patagonia Lithium gains most in over 5 weeks on premium placement

Patagonia Lithium

18/12/2024 24:14

** Shares of Australia's Patagonia Lithium  PL3.AX  rise as
much as 6.3% to A$0.085, their biggest intraday pct gain since
Nov 7
    ** Stock at its highest level since Dec 5
    ** The mineral explorer to raise A$1.85 mln ($1.17 mln) via
placement at issue price of A$0.10 per new share
    ** Issue of shares at a premium of 25% to stock's last close
    ** Funds raised from placement will be principally used to
complete current lithium brine drill programme in Argentina -
PL3
    ** Stock has fallen 34.6% this year 

    ($1 = 1.5780 Australian dollars)

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