Australia's Sunshine Metals tanks on discounted placement

Sunshine Metals

21/09/2023 04:05

** Shares of Sunshine Metals  SHN.AX  down as much as 17.7%
at A$0.014, their lowest level since July 4
    ** Gold and copper explorer says secured commitment for
placing A$3 mln ($1.92 mln) at an issue price of A$0.014 per
share, representing a discount of 17.6% to stock's last closing
    ** Adds, funds to be used to accelerate drilling at
Ravenswood project 
    ** Stock down 15% this year, as of last close

($1 = 1.5605 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))