Australia's Widgie Nickel falls on discounted capital raise
16/04/2024 02:20
** Shares of Widgie Nickel WIN.AX fall as much as 5.9% to
A$0.048, set for their worst day since April 8, if losses hold
** The mineral explorer announces rights issue to raise up
to A$4 mln ($2.57 mln)
** Rights issue at A$0.04 per fully paid ordinary share,
which is a 21.6% discount to stock's last close
** Funds raised will primarily be used to advance Mt Edwards
nickel and lithium assets in Western Australia - co
** Stock hits lowest level since April 9
** WIN stock down 45.2% YTD, as of last close
($1 = 1.5564 Australian dollars)
(Reporting by Adwitiya Srivastava in Bengaluru)
((Adwitiya.Srivastava@thomsonreuters.com;))