Australia's Silver Mines sees worst day in two years on discounted placement

Silver Mines

10/02/2023 24:09

** Shares of Silver Mines  SVL.AX  slump as much as 20.5% to
A$0.158, eye their worst day since Feb. 2, 2021 
    ** Silver explorer says it has completed a capital raising
of A$18 million ($12.49 million) via a placement  urn:newsml:reuters.com:*:nFWN34P3NP
    ** Says funds raised will be used for progression of
activities at its flagship Bowdens Silver Project in New South
Wales 
    ** Issue price of A$0.16 per share is at a ~17.9% discount
to the last close on Feb 7 
    ** Shares hit lowest since Sept. 28 
    ** Stock has fallen 2.5% this year, as of last close
($1 = 1.4409 Australian dollars)
 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))