Australia's Queensland Pacific Metals falls on discounted placement

QPM Energy

16/05/2024 04:59

** Shares of Queensland Pacific Metals  QPM.AX  fall as much
as 7.3% to A$0.038, their lowest level since April 22
    ** Critical mineral explorer raises A$19.1 mln ($12.79 mln)
through a placement
    ** Issue price of A$0.038 per share represents a 7.3%
discount to stock's last close
    ** About 7.8 mln shares change hand, vs 30-day average
trading volume of 3.5 mln shares 
    ** Stock down 25.5% YTD as of last close 
   


($1 = 1.4939 Australian dollars)

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