Australia's Premier1 Lithium hits over 3-month low on discounted entitlement offer
08/11/2024 02:05
** Shares of Australia's Premier1 Lithium PLC.AX fall as
much as 36.4% to A$0.007, their lowest level since Aug 1
** Stock posts its biggest intraday pct fall since Aug 1
** Mineral explorer announces entitlement offer to raise
A$1.3 mln ($865,930.00) at an issue price of A$0.008 per share
** Issue price represents a discount of 27.3% to stock's
last closing
** Co also announces placement of A$209,000 at same issue
price as entitlement offer
** Funds to be used to advance exploration at Yalgoo and
Abbotts North lithium projects - PLC
** About 5.3 mln shares change hands, vs the 30-day average
volume of 862,054 shares
** Stock has fallen 84.3% this year, as of 0155 GMT
($1 = 1.5013 Australian dollars)
(Reporting by Roshan Thomas in Bengaluru)
((Roshan.Thomas@thomsonreuters.com))