Australia's Victory Metals falls on discounted placement

Victory Metals

10/05/2023 02:34

** Shares of Victory Metals  VTM.AX  fall as much as 6.7% to
A$0.280, seeing its worst day since May 1 
    ** The mineral explorer says it has received firm
commitments to raise A$3 million ($2.03 million) via a share
placement 
    ** Funds raised will be used to advance co's North Stanmore
Rare Earth Element Project in Western Australia
    ** Issue price of A$0.24 per share is at a 20% discount to
the last closing price 
    ** Stock has risen ~36.7% this year as of last close

($1 = 1.4743 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))