Australia's Inca Minerals hits record low on discounted placement

Rokeby Resources

05/02/2024 03:11

** Shares of Inca Minerals  ICG.AX  fall as much as 12.5% to
a record low of A$0.007
    ** Stock set for worst session since Dec. 11 if current
losses hold     
    ** Resource co announces three-for-two renounceable rights
issue to raise up to A$2.75 mln ($1.79 mln) at A$0.007 per share
    ** Issue price represents a discount of 12% to stock's last
close
    ** Co says funds to be used to progress Australian
exploration programmes
    ** Nearly 603,400 shares change hands, compared with the
30-day average volume of more than 582,900 shares    
    ** Stock down 27.3% this year, as of last close

($1 = 1.5385 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))