Australia's Southern Hemisphere Mining slumps on discounted rights issue

Southern Hemisphere Mining

18/01/2022 03:06

** Shares of Southern Hemisphere Mining Ltd  SUH.AX  fall as
much as 15% to A$0.034, hits lowest level since April 14, 2021
    ** Copper-gold exploration co announces renounceable rights
issue of A$1.5 mln ($1.08 mln) to fund further exploration its
projects  urn:newsml:reuters.com:*:nASX93g02w
    ** Issue price of 3 cents per share represents a discount of
25% to last close
    ** Stock posts its biggest intraday pct fall since Nov. 8
    ** More than 1.2 mln shares change hands, compared with the
30-day average volume of about 235,000
    ** Stock was on trading halt since Jan. 17; up 5.3% this
year, as of last close


($1 = 1.3858 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))