Australia's Santana Minerals falls on discounted placement

Santana Minerals

26/04/2024 01:51

** Shares of Santana Minerals  SMI.AX  fall as much as 10.6%
to A$1.135, set for worst day since Feb. 16 - if losses hold
    ** Metals explorer says it is raising A$31.2 mln ($20.35
mln) to advance Bendigo Ophir Gold Project in New Zealand 
    ** Issue price of A$1.15 per share is at a 9.4% discount to
stock's last close
    ** Stock hits lowest level since March 4    
    ** About 329,500 shares change hands, compared with the
30-day average volume of nearly 259,400      
    ** SMI up 25.7% YTD, as of last close

($1 = 1.5335 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))