Australia's Stavely Minerals hits 6-year low on discounted placement

Stavely Minerals

28/06/2023 03:30

** Shares of Stavely Minerals Ltd  SVY.AX  fall as much as
15.7% to A$0.097, their lowest level since June 22, 2017
    ** Mineral resources co receives binding commitments for a
placement to raise A$3.55 mln ($2.36 mln)
    ** Issue price of A$0.09 per share is at a 21.7% discount to
stock's last close 
    ** More than 728,350 shares change hands, compared with the
30-day average trading volume of 505,576 shares 
    ** Shares down 53.1% YTD, as of last close    


($1 = 1.5072 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))