Australia's WA1 Resources hits 4-week low on discounted placement

WA1 Resources

18/01/2024 24:34

** Shares of WA1 Resources  WA1.AX  fall as much as 7.5% to
A$10.30, their lowest level since Dec. 21
    ** Mineral explorer announces placement to raise A$40 mln
($26.20 mln) at an issue price of A$10 per share 
    ** Issue price represents 10.2% discount to stock's last
close 
    ** Co says placement to advance co's West Arunta project in
Western Australia 
    ** Stock down 10.2% YTD, as of last close 
   ($1 = 1.5270 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))