BUZZ-Australia's Nico Resources rises to 2-week high on premium placement

Reuters

06/03

BUZZ-Australia's Nico Resources rises to 2-week high on premium placement

** Shares of Nico Resources NC1.AX rise 9.6% to A$0.08, their highest levels since May 20

** Stock set for its strongest session since May 15, if current trends hold

** The nickel miner receives commitments to raise A$1.1 million ($713,900) via placement

** Issue price of A$0.08 represents a 9.6% premium on co's last close

** Says funds will be used to advance exploration of the Wingellina Project in Western Australia, others

** Stock down 23.8% YTD, including current session's moves

($1 = 1.5408 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

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