Australia's West Wits Mining hits one-month low on discounted capital raise

West Wits Mining

10/02/2023 02:49

** Shares of West Wits Mining  WWI.AX  drop as much as 9.4%
to A$0.015, their lowest level since Jan 3
    ** The precious and base metals explorer says it has
received firm commitments to raise A$1.5 mln ($1.04 mln) before
costs 
    ** Also intends to launch a share purchase plan to raise up
to about A$1 mln
    ** Issue price of A$0.014 per share for both is at a 12.5%
discount to last close on Feb 7
    ** Says funds raised to be used to install critical
infrastructure at the Qala Shallows mine site, among others
    ** Stock posts its biggest intraday pct loss since Jan 17
    ** Stock flat this year, as of last close 
    ($1 = 1.4424 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))