BUZZ-Australia's <a href="https://laohu8.com/S/MAY.AU">Melbana Energy</a> hits near 4-year low on discounted placement** Shares of Melbana Energy MAY.AX plunge as much as 22.7% to A$0.017, their lowest level since September 14, 2021
** Stock records biggest intraday pct fall since mid-July, 2024
** Oil and gas explorer receives binding commitment of A$7 million ($4.50 million) via placement at an issue price of A$0.017 per share
** Issue price represents a discount of 22.7% to stock's last close
** Funds from placement to be used for co's share of drilling costs for Amistad-2 well in Cuba
** About 13.7 mln shares traded, 6.9x the 30-day average
** YTD stock down 25.9%, including the day's moves
($1 = 1.5555 Australian dollars)
(Reporting by Ananya Verma in Bengaluru)
((ananya.verma@thomsonreuters.com;))
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