Australia's Patriot Lithium loses most in 8 weeks after completion of discounted placement

Patriot Resources

01/05/2024 03:37

** Shares of Australia's Patriot Lithium  PAT.AX  fall as
much as 15.2% to A$0.084, their biggest intraday pct drop since
March 4
    ** Stock at its lowest level since April 8
    ** The lithium explorer announces completion of placement to
raise A$2.5 mln ($1.62 mln) at issue price of A$0.075 per share
    ** Issue price represents a discount of 24.2% to stock's
last closing
    ** Around 212,205 shares change hands, vs 30-day average
volume of 111,843 shares
    ** Stock down 45% YTD, as of last close
   
    ($1 = 1.5461 Australian dollars)

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