Australia's Saturn Metals plunges on discounted placement
22/11/2022 24:15
** Shares of Saturn Metals Ltd STN.AX dip as much as 14.9%
to A$0.200, their biggest intraday pct loss since Jan. 28, 2021
** Gold explorer announces non-renounceable rights issue to
raise up to A$4.68 mln ($3.09 mln) before costs urn:newsml:reuters.com:*:nFWN32H2OR
** Issue price of A$0.18 per new share is at a 23.4%
discount to last close on Nov. 21
** Says funds to be used for development studies and bulk
sample pilot plant planning at Apollo Hill Gold Deposit and
focused exploration activities
** Volumes are 3.4x the 30-day average of 61,225 shares
** Stock has fallen 44.7% this year, as of last close
($1 = 1.5138 Australian dollars)
(Reporting by Echha Jain in Bengaluru)
((Echha.jain@thomsonreuters.com))
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Australia's Saturn Metals falls on discounted placement