Australia's Wildcat Resources slumps on discounted placement

Wildcat Resources

10/11/2023 24:10

** Shares of Wildcat Resources  WC8.AX  slump as much as
8.2% to A$0.785, set for their worst session since Oct 31 - if
losses hold 
    ** The lithium miner says it has received firm commitments
to raise A$100 mln ($63.59 mln) via share placement 
    ** Says funds raised will be used to accelerate exploration
activities at its Tabba Tabba lithium project in Western
Australia 
    ** Issue price of A$0.76 per share is at an 11.1% discount
to stock's last close on Nov 8 
    ** Shares hit lowest level since Nov 2; fall for a third
straight session 
    ** Stock had jumped more than 35 times in value this year,
as of last close

($1 = 1.5726 Australian dollars)

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