Australia's West Wits Mining hits 1-year low on A$9.3 mln capital raising

West Wits Mining

17/11/2021 01:31

** Shares of West Wits Mining Ltd  WWI.AX  drop as much as
15.4% to A$0.033, their lowest since Sept. 18, 2020
    ** Gold miner announces https://www.asx.com.au/asxpdf/20211117/pdf/45321gzwwj1sx2.pdf
 1:6 non-renouncement pro-rata rights issue at A$0.03 per share
to raise about A$7.86 mln($5.72 mln)
    ** Says to raise A$1.6 mln (before costs) through placement
of shares at A$0.032 per share to existing and new unrelated
investors 
    ** Issue price for placement represents 18% discount as of
last close on Friday
    ** Says capital raising to advance the development of WWI's
Witwatersrand Basin gold Project, South Africa
    ** Stock posts its biggest intraday pct fall since March 31
    ** 6.7 mln shares change hands,2.6x the 30-day average
volume of 2.5 mln; down 45.1 % so far this year


($1 = 1.3732 Australian dollars)

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))