BUZZ-Australia's IRIS Metals slips on discounted placement

Reuters

02/03

** Shares of Australia's IRIS Metals IR1.AX fall 7.7% to A$0.18, on track for their steepest intraday drop since January 5

** Lithium explorer receives firm commitments to raise A$5.5 million ($3.85 million) via placement at an offer price of A$0.165 per share

** Offer price represents a 15% discount to the last closing price

** Funds will be used to advance the company’s various critical minerals projects

** IR1 up 9.1% YTD

($1 = 1.4280 Australian dollars)

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))

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