Australia's Adelong Gold falls most in 2-weeks on discounted placement

Amara Minerals

05/03/2024 23:56

** Shares of Adelong Gold  ADG.AX  fall as much as 11.1% to
A$0.004, marking its biggest intraday pct fall since Feb 21
    ** Stock at its lowest level since Feb 21
    ** Mineral explorer receives firm commitments to raise A$1.1
mln ($715,440) via placement at issue price of A$0.004/shr
    ** Issue price represents a discount of 20% to stock's last
closing
    ** Around 4.4 mln shares change hands as of 2347 GMT, vs
30-day average volume of 955,370 shares
    ** Stock down 10% YTD, as of last close
    
($1 = 1.5375 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))