Australia's West Cobar Metals hits record low on discounted placement

West Cobar Metals

10/12/2024 04:05

** West Cobar Metals  WC1.AX  tumbles 27.8% to record low of
A$0.013; set for worst-ever session
    ** Mineral explorer gets firm commitments to raise A$175,000
($111,790) via placement
    ** Issue price of A$0.012 represents 33.3% discount to last
close
    ** Co says funds will be used as working capital and to
evaluate potential project opportunities
    ** More than 724,000 shares traded, 6.4x the 30-day avg
    ** Stock down 82.7% YTD

($1 = A$1.5654)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))