Australia's QMines falls on discounted placement

QMines

02/08/2024 03:34

** Shares of QMines  QML.AX  fall as much as 9.4% to A$0.05,
coming off a 3-day trading halt
    ** The copper & gold miner to raise A$5 mln ($3.3 mln) by
selling shares at A$0.047 each, an 11.3% discount to last close
    ** Stock had soared 30% on July 26 and was on a trading halt
for last 3 sessions ahead of the equity raise
    ** Stock last down 3.8% on the day, taking YTD losses to
~38%

($1 = 1.5385 Australian dollars)

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