BUZZ-Australia's <a href="https://laohu8.com/S/LMGN.AU">Latrobe Magnesium</a> falls on discounted placement ** Shares of Latrobe Magnesium LMG.AX fall as much as 11.1% to A$0.024, their biggest intraday pct loss since September 22
** Stocks hits their lowest level since September 24
** The specialty miner says it raised A$6 million ($3.92 million) via placement, A$4 million via non-renounceable entitlement offer
** Issue price of A$0.023 per share under placement, entitlement offer represents a discount of ~14.8% to stock's last close
** Funds raised will be used to complete the 500 TPA magnesium plant, others
** Stock has gained 25%, YTD, including current session's move
($1 = 1.5316 Australian dollars)
(Reporting by Ananya Verma in Bengaluru)
((ananya.verma@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.