BUZZ-Australia's Eagle Mountain Mining falls to record low on discounted placement

Reuters

2024/12/16

** Eagle Mountain Mining EM2.AX plunges as much as 21.4% to a record low of A$0.011

** Copper-gold miner to raise A$6.4 mln ($4.1 mln) through new shares to reduce debt, review new opportunities and fund explorations

** Issue price of A$0.008 a 46.7% discount to Friday's close

** Stock posts biggest intraday pct fall since Nov. 25

** About 3.8 mln shares traded vs the 30-day avg of 1.2 mln

** EM2 down 83.2% YTD

($1 = A$1.5708)

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com;))

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