Australia's ABx Group falls on discounted placement

ABx

06/09/2023 04:05

** Shares of ABx Group  ABX.AX  fall as much as 3.1% to
A$0.095, their biggest intraday pct loss since Aug 2
    ** The mineral explorer says it has received firm
commitments for an A$1.5 mln ($956,400.00) single tranche share
placement 
    ** Issue price of A$0.08 per share is 18.4% discount to last
close on Sept 1
    ** Co says funds raised will be used to continue development
of rare earth projects in Tasmania 
    ** Shares hit their lowest level since Aug 3
    ** Stock on track on record a third consecutive session of
losses, if trend holds
    ** ABX down 14.8% YTD, as of last close 

($1 = 1.5684 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))