Australia's Western Mines set for worst day in nearly 2 months on discounted placement

Western Mines

25/10/2023 01:57

** Shares of Western Mines Group  WMG.AX  slump as much as
11.1% to A$0.280, set for their worst day since Sept 5, if
losses hold 
    ** The gold explorer says it has completed a placement to
raise A$1.2 mln ($765,120) to funds its exploration programmes
at the Mulga Tank Ni-Cu-PGE project in Western Australia 
 urn:newsml:reuters.com:*:nASX7KvbK0 
    ** Issue price of A$0.28 per share is at an 11.1% discount
to the last closing price on Oct 20 
    ** Shares hit lowest since Oct 6 
    ** Stock nearly doubled this year, as of last close

    ($1 = 1.5684 Australian dollars)

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