Australia's Strickland Metals slides to near 1-mth low on discounted placement

Strickland Metals

08/11/2021 01:03

** Shares of Strickland Metals  STK.AX  fall as much as 9.2%
to A$0.079, their lowest since Oct. 12
    ** Mineral explorer to raise ~A$12 mln ($8.88 mln) to
advance drilling and expansion at its Yandal gold project in
Western Australia  urn:newsml:reuters.com:*:nASX1JjPfq
    ** Co to place ~160 mln shares under the placement, making
up 20.5% of its free float
    ** New shares are priced at A$0.075 per share, a discount of
13.8% to stock's last closing price on Nov. 3, after which co
went on trading halt
    ** Stock posts biggest intraday pct fall since Oct. 19
    ** STK has more than doubled in value this year, as of last
close

($1 = 1.3517 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))