Australia's Torque Metals plunges to record low on discounted placement

Torque Metals

20/09/2024 06:30

** Shares of Torque Metals  TOR.AX  plunge as much as 18% to
hit a record low of A$0.082; biggest intraday pct fall since
Aug. 1
    ** Gold miner gets firm commitments to raise A$3.1 mln ($2
mln) via placement
    ** Issue price of A$0.08 a 20% discount to last close on
Sept. 18, when trading was halted pending the capital raise
announcement
    ** Co says funds will be used to develop its Paris Gold
Project in Western Australia
    ** TOR down 62.3% YTD

($1 = A$1.4674)

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