Strickland Metals falls most in 4-1/2 months on discounted placement

Strickland Metals

28/10/2022 01:00

** Shares of Australia's Strickland Metals  STK.AX  fall as
much as 12.3% to A$0.05, set to lose most since June 14
    ** The mineral explorer says A$2.4 million($1.55 million)
raised to continue resource expansion and drilling programs at
Yandal gold project  urn:newsml:reuters.com:*:nASX1qxQx4
    ** Says placement of 48 mln shares at an issue price of
A$0.05 per share which is at a discount of 12.3% to co's last
close
    ** Adds completion of capital raising allows co's
exploration programs to continue as budgeted
    ** Stock has fallen 21.9% this year as of last close
($1 = 1.5499 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))