Australia's Tambourah Metals posts record intraday drop on discounted placement

Tambourah Metals

02/08/2023 02:00

** Shares of Tambourah Metals  TMB.AX  fall as much as 23.5%
to A$0.260, posting their record intraday pct drop
    ** Critical metals explorer says it has received firm
commitments to raise A$2.5 mln ($1.65 mln) before costs via
placement
    ** Issue price of A$0.235 per share is at a 30.9% discount
to last close on July 28 
    ** Co says funds raised will be predominantly applied to
drilling and assessment of co's Pilbara lithium projects
    ** TMB stock up 223.8% YTD, as of last close


($1 = 1.5126 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))