Australia's Aruma Resources falls after discounted placement

Aruma Resources

02/06/2023 01:56

** Shares of Aruma Resources Ltd  AAJ.AX  slide as much as
5.7% to A$0.066, their lowest since May 26
    ** Gold miner receives firm commitments for placement to
raise A$2.25 mln ($1.53 mln)
    ** Issue price of A$0.058 per share represents a discount of
16.2% to the 10-day volume-weighted average price up to June 2 
    ** Proceeds will be used for targeted rare earth element
fieldwork at the Saltwater project in Western Australia 
    ** Stock posts its biggest intraday pct fall since May 26
    ** More than 492,850 shares change hands, twice the 30-day
average volume 
    ** Stock up 32.1% this year, as of last close

($1 = 1.4743 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))