Australia's Terra Uranium sinks to record low on discounted placement

Terra Critical Minerals

16/12/2024 04:57

** Shares of Terra Uranium  T92.AX  fall as much as 12.5% to
a record low of A$0.042
    ** Stock posts its biggest intraday pct drop since mid-May
    ** Uranium explorer receives firm commitments to raise
A$320,000 ($204,032.00) via placement
    ** Placement issue price A$0.045 per share, a 6.3% discount
to stock's last close
    ** Co says funds will be used to advance development of
uranium exploration at co's projects in Athabasca Basin, Canada
    ** More than 750,000 shares change hands, 8.1 times the
30-day avg of about 93,000 shares
    ** Stock down 66.9% YTD, including current session's moves

($1 = 1.5684 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))