Australia's Trek Metals falls on discounted placement to fast-track Pilbara exploration
20/10/2021 05:35
** Shares of copper explorer Trek Metals ltd TKM.AX fall
as much as 11.1% to A$0.120
** Co raises A$3.5 mln ($2.62 mln) at an issue price of
A$0.115/share to fund next phase of exploration at across its
Pilbara portfolio urn:newsml:reuters.com:*:nASX8VlJx0
** Issue price represents a discount of 14.8% to their last
close price on Oct. 15
** Placement via issue of 30.43 mln shares, representing 18%
of co's free float of 168.04 mln shares
** Also announces a share purchase plan to raise another A$2
mln
** More than 2.2 mln shares traded vs their 30-day moving
avg of about 1.8 mln shares
** Stock was on a trading halt since Oct. 18; up to Friday's
close, stock up 117.7% this year
($1 = 1.3364 Australian dollars)
(Reporting by Jaskiran Singh in Bengaluru)
((Jaskiran.Singh@thomsonreuters.com))