BUZZ-Australia's Jindalee Lithium slips on discounted placement

Reuters10-20
BUZZ-Australia's <a href="https://laohu8.com/S/JLLN.AU">Jindalee Lithium</a> slips on discounted placement

** Shares of Australia's Jindalee Lithium JLL.AX fall as much as 39.9% to A$0.55, their lowest point since October 3

** The lithium explorer receives firm commitments to raise A$8 million ($5.20 million) via placement at an issue price of A$0.55 per share

** Placement price represents a nearly 40% discount to stock's last close

** Proceeds will be used to support exploration drilling, metallurgical testwork, repayment of convertible notes and working capital, among others

** Around 1 million shares change hands, nearly 3.1x 30-day average

** Jindalee Lithium stock up 163.6%, YTD

($1 = 1.5373 Australian dollars)

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@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.

Comments

We need your insight to fill this gap
Leave a comment