Australia's Antilles Gold slumps on discounted capital raise

Antilles Gold

01/08/2022 03:52

** Shares of Antilles Gold  AAU.AX  dive as much as 14.8% to
A$0.052, their lowest since May 10
    ** The gold explorer says it intends to raise about A$3
million ($2.10 million) via an issue of 61 mln shares
 urn:newsml:reuters.com:*:nFWN2ZC015
    ** Co says funds raised will be used for its preliminary
drilling activities in the El Pilar copper-gold porphyry deposit
in Central Cuba, among others 
    ** Issue price of A$0.05 per share is at an 18% discount to
the last closing price on July 27, before it went on a trading
halt 
    ** Nearly 1.5 mln shares change hands, 2.4 times more than
the 30-day average volume of 657,964. 
    ** Stock has fallen 21.8% this year, as of last close

($1 = 1.4292 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))