Australia's Thomson Resources at nearly 15-month low on share placement

Silver Metal

19/04/2022 03:25

** Miner's shares  TMZ.AX  fall as much as 19.6% to A$0.041,
lowest since Sept. 7, 2020
    ** Company says it is raising up to A$3.3 mln ($2.43 mln)
via a share placement  urn:newsml:reuters.com:*:nFWN2WE02N
    ** Issue price of A$0.041/shr at 19.6% discount to last
closing price on April 6
    ** Thomson Resources says funds raised will be used to repay
a cancelled convertible debt security transaction that was
previously announced on March 28
    ** Company's shares see worst session since Feb. 2, 2021, if
losses hold
    ** Stock down 28.2% this year, as of last close

 ($1 = 1.3592 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com))