Australia's Astral Resources falls on discounted placement

Astral Resources NL

25/09/2024 02:16

** Shares of Australia's Astral Resources  AAR.AX  fall as
much as 9.1% to A$0.100, its biggest intraday fall since Sept 16
    ** Stock currently down 4.6%
    ** Gold and base metals miner to raise A$25.0 mln ($17.24
mln) in two-tranche share placement at an issue price of A$0.095
per share
    ** Issue price represents a discount of 13.6% to stock's
last closing
    ** Adds proceeds from placement to help to completion of the
Mandilla pre feasibility study, others
    ** Around 3.6 mln shares change hands, vs 30-day average
volume of 1.5 mln shares
    ** Stock has risen 50.7% this year, as of 0103 GMT

($1 = 1.4501 Australian dollars)

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