Australia's Anax Metals falls on discounted placement

Anax Metals

17/06/2024 03:31

** Shares of Anax Metals  ANX.AX  fall as much as 19.4% to
A$0.029, their lowest level since May 3
    ** The mineral explorer receives commitments to raise A$3
million ($1.98 million) at issue price of A$0.03 per share
    ** Co says issue price is at 16.6% discount to stock's last
close
    ** Stock posts its biggest intraday pct fall since May 21 -
if current trends hold
    ** Stock is up 20% this year as of last close

($1 = 1.5142 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))