Latrobe Magnesium falls 10.5% on discounted fundraising

Shares of Latrobe Magnesium fell 10.5% to A$0.017. The magnesium metal developer is raising A$8.5 million ($6.05 million) at an offer price of A$0.015 per share, a discount of 21.1% to the stock's last close. About 75.2 million shares changed hands, 7.1x the 30-day average.