Australia's Astral Resources falls most in over 3 years on discounted placement

Astral Resources NL

31/07/2023 02:38

** Shares of Astral Resources  AAR.AX  fall as much as 16.3%
to A$0.067, their biggest intraday pct drop since March 19, 2020
    ** The gold and base mineral explorer says it has secured
firm commitments to raise A$3 mln ($2.00 mln) via a
single-tranche share placement 
    ** Issue price of A$0.065 per share is at an 18.8% discount
to last close on July 25 
   ** Says funds raised will be used to advance Kalgoorlie gold
projects 
    ** Shares hit their lowest level since July 3
    ** AAR stock up 11.1% YTD, as of last close 

    ($1 = 1.5002 Australian dollars)

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