Australia's Volt Resources slumps on discounted equity raise

Volt Resources

23/10/2023 01:10

** Shares of Volt Resources  VRC.AX  slump as much as 12.5%
to A$0.007, their lowest since Sept 29 
    ** Graphite anode developer says received firm commitments
to raise A$1.6 mln ($1.01 mln) via placement and share purchase
plan 
    ** Issue price of A$0.007 per share is at 8.75% discount to
Oct 19 closing price
    ** About 5.2 mln shares change hands, 2.8 times compared
with the 30-day average volume of 1.9 mln 
    ** Stock had fallen ~46.7% this year, as of last close

($1 = 1.5823 Australian dollars)

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