Australia's Pivotal Metals dips on discounted placement

Pivotal Metals

23/09/2024 06:41

** Shares of Pivotal Metals  PVT.AX  fall as much as 21.4%
to A$0.011, set for their worst day since Sept 10, if current
trend holds 
    ** The mineral explorer receives commitments to raise A$1
mln ($682,500) via placement and A$2 mln via Flow Through Shares
(FTS)
    ** Placement issue price at A$0.01 per share, a 28.6%
discount to last close on Sept 18
    ** FTS issue price at A$0.019 per share, a 35.7% premium to
last close on Sept 18
    ** Co says funds will be used to develop its Horden Lake and
BAGB projects in Canada
    ** Stock down 48% YTD, including current session's moves
    
    ($1 = 1.4652 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))