Australia's Eastern Metals hits record low on discounted share placement

Raptor Metals

05/05/2023 03:04

** Shares of Australia's Eastern Metals Limited  EMS.AX 
fall as much as 21.1% to a record low of A$0.056 
    ** Stock set to mark worst day since Feb 4, 2022, if current
losses hold   
    ** The precious metals explorer says co intends to undertake
a entitlement issue at an issue price of A$0.05 per new share to
raise A$1.4 mln ($939,400.00)
    ** Offer price is a 29.6% discount to stock's last close 
    ** EMS stock down 5.3% this year, as of last close

    ($1 = 1.4903 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))