Australia's Scorpion Minerals rises on raising funds for lithium exploration

Scorpion Minerals

13/04/2022 03:52

** Shares of mineral exploration company Scorpion Minerals
 SCN.AX  rise as much as 49.3% to A$0.1, gain most since
February 2020
    ** Co says https://www.scorpionminerals.com.au/wp-content/uploads/2022/04/Scorpion-raises-3M-to-advance-lithium-exploration.pdf
 it raised over A$3.2 mln ($2.39 mln) by placing 62.3 mln shares
to advance lithium and base metals exploration 
    ** Funds will be used to support planned drilling and
geophysics programmes across Pharos Project in Western Australia
    ** Placement at issue price of A$0.051 per share, a discount
of ~24% to the last traded price on April 8
    ** More than 5.1 mln shares change hands, vs the 30-day
average volume of 219,000
    ** Stock down 9.46% this year, as of last close
    ($1 = 1.3401 Australian dollars)

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com))