Australia's Battery Minerals slides on discounted placement

Waratah Minerals

17/12/2021 03:20

** Shares of Battery Minerals Ltd  BAT.AX  slide about 14.3%
to A$0.012, the biggest intraday pct drop since Aug 19 
    ** The graphite-focussed mineral explorer says that it has
received firm commitments to raise ~$2.7 million in a share
placement  urn:newsml:reuters.com:*:nFWN2T11IP
    ** Issue price of 1.1 Australian cents per share is at a
27.3% discount to the closing price, when it last traded on Dec
14
    ** Co says it will use the funds raised for various
exploration programmes like the Stavely Stawell copper-gold
project in Victoria, among others
    ** Stock hits lowest since Nov 9
    ** Stock has fallen 30% this year as of last close

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