Australia's Aurumin drops most in over two weeks on discounted capital raise

Aurumin

09/11/2022 24:41

** Shares of Aurumin  AUN.AX  slip as much as 5.6% to
A$0.085, tracking their worst day since Oct 25 - if losses hold 
    ** The gold explorer says it is undertaking a capital
raising of up to approximately a cumulative A$3.1 million ($2.01
million) via share placement and entitlement offer  urn:newsml:reuters.com:*:nTUE1L7SQJ
    ** Co says capital raised will be used to fund exploration
at its wholly-owned Central Sandstone Project in Western
Australia 
    ** Issue price of A$0.08 per share is at a 11.1% discount to
the last closing price on Nov 4 
    ** Stock has fallen 50% this year as of last close
($1 = 1.5387 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))