Australia's Ballymore Resources falls on discounted placement

Ballymore Resources

28/10/2022 01:15

** Shares of Australia's Ballymore Resources  BMR.AX  fall
as much as 5.3% to A$0.18, their lowest since Oct 4
    ** The mineral explorer receives firm commitments for a
placement to raise A$2.9 million ($1.87 million) urn:newsml:reuters.com:*:nASXbB4NKb
    ** Says placement at an issue price of A$0.16 per share
which is at a discount of 15.8% to co's last close
    ** Adds funds to be used to undertake further exploration at
co's four projects and provide additional working capital
    ** Stock posts its biggest intraday pct fall since Oct 11
    ** Stock has risen 8.6% this year as of last close
($1 = 1.5501 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))