Australia's Arizona Lithium hits over 2-year low on discounted placement

Prairie Lithium

28/07/2023 02:15

** Shares of Arizona Lithium Ltd  AZL.AX  fall as much as
18.8% to A$0.026, their lowest level since July 1, 2021
    ** Exploration co raises A$10 mln ($6.70 mln) via a
placement to institutional and sophisticated investors
    ** Issue price of A$0.025 per share is a 21.9% discount to
stock's last close 
    ** Co sees biggest intraday fall since June 23
    ** About 21.9 mln shares change hand compared to 30-day
average trading volume of 6.4 mln shares 
    ** Shares of co are down 48.4% YTD as of last close 
   


($1 = 1.4923 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))