Australia's Saturn Metals sinks on discounted placement

Saturn Metals

25/11/2021 02:49

** Shares of Australian gold explorer Saturn Metals  STN.AX 
drop as much as 8% to A$0.515 after co announces a discounted
placement 
    ** Co said it received firm commitments for an A$8 mln  
($5.76 mln) share placement at 48 Australian cents per share 
 urn:newsml:reuters.com:*:nASXcc5Jps 
    ** Placement price at a 14.3% discount to Saturn Metals'
last close of A$0.56
    ** Says funds raised will go towards its Apollo Hill Gold
Project in Western Australia
    ** Stock trading was halted on Tuesday pending the
announcement
    ** Stock set for worst session since Nov 16
    ** Stock down 13.8% so far this year, as of Monday's close 
    
    ($1 = 1.3881 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))