Australia's Polymetals resources drops on discounted placement

Polymetals Resources

04/06/2024 03:27

** Shares of Polymetals Resources  POL.AX  fall as much as
13.8% to A$0.345, set to drop most since March 14 - if current
losses hold
    ** The mineral resources explorer receives firm commitments
to raise A$6.2 mln ($4.14 mln)
    ** Says issue price of A$0.28 per share is at a 30% discount
to stock's last closing price
    ** Stock up 29% this year, as of last close

($1 = 1.4984 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))