Australia's South Harz Potash tumbles on discounted placement

Turnstone Resources

15/12/2023 03:04

** Shares of South Harz Potash  SHP.AX  fall as much as
14.3% to A$0.024, biggest intraday pct loss since Oct. 19
    ** Stock hits its lowest level since Oct. 27
    ** Potash explorer says it will raise A$2.4 mln ($1.61 mln)
via share placement at an issue price of A$0.023 per share
    ** Issue price represents a 17.9% discount to co's last
close on Tuesday
    ** Shares had been on a trading halt on Wednesday and
Thursday
    ** More than 1.5 mln shares change hands, compared with the
30-day average volume of 586,154
    ** Stock down 31.7% YTD, as of last close

($1 = 1.4892 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))