Australia's Volt Resources slumps on discounted placement

Volt Resources

15/11/2022 24:52

** Shares of Volt Resources Ltd  VRC.AX  fall as much as
10.5% to A$0.017 - set to mark their worst day since Oct 28, if
losses hold 
    ** Graphite producer says it has received firm commitments
to raise A$10 mln ($6.70 mln) via a share placement 
    ** Issue price of A$0.018 per share is at a 5.3% discount to
stock's closing price on Nov 10 
    ** Co says funds raised will be utilised to advance its
integrated graphite battery materials business plans    
    ** Shares hit their lowest since Nov 10 
    ** Stock had fallen 32.1% this year, as of last close
($1 = 1.4937 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))