Australia's Tasman Resources slumps on discounted placement

Tasman Resources

05/03/2021 24:33

** Shares of Tasman Resources  TAS.AX  fall as much as 15%
to A$0.085, posting their biggest intraday pct loss since Feb.
25 
    ** The diversified miner agreed to raise A$4.8 mln ($3.70
mln) via placements to professional investors 
    ** Placements at an issue price of A$0.08 per share, a
discount of 20% to stock's closing price of A$0.01 on Thursday
    ** Shares offered under placement represent 20.25% of co's
free float
    ** About 14.2 mln shares change hands, vs the 30-day average
volume of about 200,000 shares
    ** Stock has risen 150% this year, as of last close

($1 = 1.2967 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))