Australia's Celamin jumps on raising funds for Tunisia project

Phosco

03/12/2021 03:56

** Shares of the phosphate miner  CNL.AX  rise as much as
4.4% to A$0.094, on track for their best session since Nov. 5
    ** Co secures binding commitments to raise A$3.2 mln ($2.26
mln) via a two-tranche share placement  urn:newsml:reuters.com:*:nGLF3nlvsq
    ** Says proceeds will be used to fund exploration, technical
studies and working capital to advance the Chaketma phosphate
project in Tunisia  urn:newsml:reuters.com:*:nFWN2SN100 
    ** Under placement, co to issue up to 42.6 mln new shares at
an issue price of A$0.075/share 
    ** Stock on track for best week since early Nov. 5
    ** Shares hit their highest since Nov. 23 
    ** More than 207,000 shares change hands, compared with the
30-day average volume of ~120,000 shares 
    ** Stock up 1.1% this year, as of last close

    
($1 = 1.4150 Australian dollars)

 (Reporting by Roushni Nair in Bangalore)
 ((Roushni.Nair@thomsonreuters.com))