Australia's Saturn Metals rises on placement to advance WA project

Saturn Metals

11/05/2023 04:36

** Shares of Saturn Metals Ltd  STN.AX  rise as much as
12.9% to A$0.1975
    ** Stock set for best day since Nov 16, 2022, if gains hold
    ** Gold explorer receives firm commitments for share
placement worth about A$1.5 mln ($1.02 mln)
    ** Says funds from placement will be used to advance
exploration at Apollo Hill Gold Project in Western Australia
    ** Placement is at issue price of 16 Australian cents per
share, a discount of 8.6% to stock's last close
    ** Including session's rise, stock swings to YTD gains of
8.33% from loss of 2.8% at last close

($1 = 1.4743 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))