BUZZ-Australia's Pivotal Metals slips on discounted placement

Reuters10-24
BUZZ-Australia's Pivotal Metals slips on discounted placement 

** Shares of Pivotal Metals PVT.AX fall as much as 25% to A$0.015, posting their biggest intraday pct loss since June 19

** The miner says firm commitments received to raise A$2.5 million ($1.62 million) in a placement at an issue price of A$0.011 per share

** Issue price at a 45% discount to the stock's last close

** Funds to be used to accelerate exploration activities at the Belleterre project in Canada - co

** About 9.8 mln shares change hands, 2.3x the 30-day average

** YTD, stock has more than doubled in value

($1 = 1.5389 Australian dollars)

(Reporting by Ananya Verma in Bengaluru)

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

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