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BUZZ-Australian Rare Earths hit over a month low on discounted placement

Reuters
01/30
BUZZ-<a href="https://laohu8.com/S/AR3N.AU">Australian Rare Earths</a> hit over a month low on discounted placement

** Shares of Australian Rare Earths AR3.AX fall as much as 9.5% to A$0.190, their lowest since December 23

** AR3 down 17.4% this week, on track to hit its worst since late October

** Mineral explorer raises A$6 million ($4.20 million) at an issue price of A$0.185 per share

** Issue price is at a discount of 8.8% to stock's last closing

** Funds from placement to be used to make progress on Koppamurra Rare Earths project

** Near 1.1 million shares change hands, 1.6x the 30-day average volume

** Stock has fallen 7.3% this year, including the day's move

($1 = 1.4286 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com;))

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