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TDUX
Aug 31 - 09:55 PM

Silver - Australia's West Coast Silver Tumbles On Discounted Placement

By Subhalakshmi Dey  —  Aug 31 - 09:13 PM

• Shares of Australia's West Coast Silver fall as much as 13% to A$0.100, marking their biggest intraday pct loss since June 10

• Stock was on trading halt since August 28

• Shares hit their lowest level since August 17

• Diversified miner announces A$6 million ($4.31 million) placement at A$0.095 per share, a 17.4% discount to stock's last close

• Says proceeds will be used for exploration and development drilling at Elizabeth Hill South and West project in Western Australia, among others

• Nearly 2.4 mln shares change hands, about 2.5x the 30-day average

• YTD, stock down 51.1%, including session's moves

($1 = 1.3933 Australian dollars)

(Reporting by Subhalakshmi Dey in Bengaluru)

Source:
London Stock Exchange Group | Thomson Reuters
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