Australia's Astral Resources falls on discounted placement

Astral Resources NL

28/04/2023 06:19

** Shares of Astral Resources NL  AAR.AX  fall as much as
1.2% to A$0.080, posting their biggest intraday pct loss since
April 19
    ** The gold and base mineral explorer says it has secured
firm commitments to raise about A#3.4 mln via a single-tranche
share placement 
    ** Issue price of A$0.072 per share is at a 11.1% discount
to last close on April 24
    ** Says proceeds to be primarily used to advance resource
definition drilling and technical & feasibility studies at
Mandilla & Feysville Gold Projects in Western Australia
    ** Stock hits lowest level since April 19
    ** AAR stock up 12.5% YTD, as of last close 

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