BUZZ-Australia's Prospect Resources hits three-week low on discounted placement
Reuters
Feb 16
BUZZ-Australia's Prospect Resources hits three-week low on discounted placement
** Shares of Australia's Prospect Resources PSC.AX fall as much as 10.8% to A$0.37, their lowest level since January 21
** Stock posts its biggest intraday pct fall since January 29
** The battery metals miner announces A$45 million ($31.87 million) placement at an issue price of A$0.38 per share
** Issue price at an 8.4% discount to stock's last closing
** Funds from placement to help advance the Mumbezhi Copper project in Zambia
** Stock has risen 49% this year, including session moves
($1 = 1.4120 Australian dollars)
(Reporting by Roshan Thomas in Bengaluru)
((Roshan.Thomas@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.