Australia's Anax Metals hits 7-month low on discounted capital raise

Anax Metals

02/08/2023 03:37

** Shares of Anax Metals  ANX.AX  slump as much as 9.8% to
A$0.055, hitting their lowest since early January 
    ** Diversified miner says it has received firm commitments
to raise A$1.1 mln ($727,210.00) via share placement 
    ** Proceeds will be used for development at the Whim Creek
Copper-Zinc JV Project in Western Australia 
    ** Issue price of A$0.055 per share represents a 9.8%
discount to last traded price on July 27 
    ** Shares poised for worst day since March 10, if losses
hold 
    ** Stock had risen ~15.1% this year, as of last close

($1 = 1.5126 Australian dollars)

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