Australia's Peak Rare Earths hits record low on discounted placement

Peak Rare Earths

05/11/2024 24:27

** Shares of Peak Rare Earths  PEK.AX  fall as much as 42.1%
to A$0.110
    ** The rare-earths explorer receives firm commitments for
A$6 million two-tranche institutional placement
    ** Issue price of A$0.10 per share represents a 47.4%
discount to co's last close
    ** Co adds funds raised to be used to progress its Ngualla
Project, others
    ** About 1.4 mln shares change hands, 9.8 times the 30-day
average volume of shares
    ** Stock down 65.7% YTD, including session's moves

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))