Australia's Arika Resources hits over one-week low on discounted placement

Arika Resources

07/10/2024 02:05

** Shares of Australia's Arika Resources  ARI.AX  fall as
much as 10.3% to A$0.026, their lowest levels since Sept 24
    ** Stock posts its biggest intraday pct fall since Sept 25
    ** The diversified miner gets commitments for A$3.2 mln
($2.18 mln) placement at an issue price of A$0.025 per share
    ** Issue price represents a discount of 13.8% to stock's
last closing
    ** Placement to accelerate drilling at Yundamindra Gold
project in Western Australia - ARI
    ** Around 97.4 mln shares change hands, vs 30-day average
volume of 381.5 mln shares
    ** Stock has risen 35% this year, as of 0018 GMT

    ($1 = 1.4706 Australian dollars)
    

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