Australia's Resource Mining gains on premium placement

Resource Minerals International

19/10/2022 03:53

** Shares of Resource Mining Corporation  RMI.AX  advance as
much as 5% to A$0.105, seeing their best day since Sept. 27 - if
gains hold
    ** The mineral explorer says it has secured firm commitments
to raise A$2.427 million ($1.53 million) via share placement 
    ** Co says funds raised will be used to advance recently
acquired a massive nickel project portfolio in Tanzania and for 
potential future exploration activities at the Finland Nickel
and Lithium project
    ** Issue price of A$0.11 per share is at about 10% premium
to the last trading price on Oct 14, before going on a trading
halt 
    ** Around 1.3 mln shares change hands, 3X the 30-day avg
volume of about 429,400 shares 
    ** Stock has risen more than triple-fold this year, as of
last close
($1 = 1.5828 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))