Australia's Tulla Resources hits all-time low on discounted share placement

Tulla Resources Pty

25/10/2022 03:21

** Shares of Tulla Resources  TUL.AX  fall as much as 13.3%
to A$0.39, on track to see their biggest fall of all time, if
losses hold 
    ** Mining company says it has received firm commitments for
a A$20 mln ($12.64 mln) two-tranche placement at A$0.38 per CDI
 urn:newsml:reuters.com:*:nASX9lSr5h
    ** The placement is at a discount of 15.6% to the stock's
last close  
    ** Shares of Tulla hit their lowest since Oct 7, 2021 
    ** More than 659,830 shares trade hands compared to 30-day
average trading volume of 130,490 shares  
    ** Co's shares are down 20.4% YTD as of last close 
($1 = 1.5823 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))