Australia's Vertex Minerals falls on discounted placement

Vertex Minerals

09/10/2024 03:25

** Shares of Vertex Minerals  VTX.AX  fall 7.9% to A$0.175,
their biggest intraday pct loss since late-September 
    ** Stock hits its lowest level since Oct 2
    ** The gold explorer says it has received firm commitments
to raise A$1.10 mln ($741,290) at an issue price of A$0.16 per
share
    ** Issue price of A$0.16 per share is at a 15.8% discount as
of last close of Oct. 4
    ** Co says it will also receive loan funding of A$0.98 mln
under a convertible facility
    ** Says proceeds will be applied towards acquisition of an
ore sorter, among other uses
    ** Co stock up 21.8% YTD, including current session's moves

    ($1 = 1.4839 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))