Australia's Golden Rim Resources hits near two-year low on discounted placement
17/03/2022 02:12
** Shares of Golden Rim Resources Ltd GMR.AX decline as
much as 16.1% to A$0.078, their lowest since May 15, 2020
** The gold explorer says it has received commitments to
raise A$5.3 mln ($3.87 mln) via a share placement urn:newsml:reuters.com:*:nFWN2VJ169
** Adds that it will raise up to A$1 mln through a share
purchase plan on the same terms of the placement.
** Co says that funds raised from placement and share
purchase plan will be used to advance its flagship Kada Gold
Project in West Africa
** Issue price of A$0.078 per share is at a 16.1% discount
to the last closing price, when it previously traded on March 14
** Shares post biggest intraday decline since April 30, 2021
** Stock has fallen 31.11% this year as of last close
($1 = 1.3712 Australian dollars)
(Reporting by Archishma Iyer)
((Archishma.Iyer@thomsonreuters.com;))