BUZZ-Australia's Manuka Resources slips on discounted placement

Reuters

Oct 21

** Shares of Manuka Resources MKR.AX fall as much as 29% to A$0.066, posting their biggest intraday pct loss since December 13, 2024

** Stock hits its lowest level since October 13

** Mineral explorer says firm commitments received to raise A$15 million ($9.75 million) at an issue price of A$0.075 per share

** Offer price represents a 19.4% discount to the stock's last close

** Funds will be used to accelerate production at the Wonawinta silver mine in New South Wales, among others - co

** About 29.1 mln shares change hands, 4.6x the 30-day average

** Stock has more than doubled in value so far this year

($1 = 1.5389 Australian dollars)

(Reporting by Ananya Verma in Bengaluru)

((ananya.verma@thomsonreuters.com;))

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