Australia's Apollo Minerals falls most in about 3 weeks on discounted placement

Apollo Minerals

04/12/2023 24:04

** Shares of Apollo Minerals  AON.AX  slip as much as 9.7%
to A$0.028, posting their biggest intraday pct loss since Nov 14
    ** The mineral explorer says it has secured firm commitments
to raise A$3.4 mln ($2.27 mln)
    ** Issue price of A$0.025 per share is at a 19.4% discount
to last close on Nov 29 
    ** Says funds raised to be primarily used at its Selanie
Gold Project in Gabon, Africa
    ** Shares hit their lowest level since Nov 16 
    ** AON stock down 38% YTD, as of last close 

    ($1 = 1.4961 Australian dollars)

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