Australia's Viridis Mining and Minerals falls on discounted placement

Viridis Mining and Minerals

04/02/2025 01:05

** Shares of Viridis Mining and Minerals  VMM.AX  fall
11.39% to A$0.35
    ** Stock set for its worst session since July 9, 2024, if
losses hold 
    ** The diversified minerals explorer and developer receives
commitments to raise A$3.5 mln ($2.17 mln) via placement
    ** Issue price of A$0.33 per share represents a discount of
16.5% to stock's last close on Jan 29
    ** Says funds raised will be used to accelerate work on its
Colossus Project critical path, including pre-feasibility study,
others
    ** About 513,501 shares change hands, 3.8 times the 30-day
average of shares
    ** Stock up 19.7% this year, as of last close

    ($1 = 1.6100 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com;))