Australia's Bannerman Energy slumps to over 3-month low on discounted placement

Bannerman Energy

28/06/2024 01:34

** Shares of Bannerman Energy  BMN.AX  slump as much as 8.8%
to A$3.265, their lowest since March 20 
    ** Co tops losses on the ASX All Ordinaries Index  .AORD  
    ** The uranium developer says it has received firm
commitments to raise A$85 mln ($56.50 mln) via a two-tranche
placement 
    ** Issue price of A$3.30 per share is at a 7.8% discount to
the last closing price on June 25 
    ** Co says funds raised will be used for the development of
the Etango-8 Project in Namibia, among others 
    ** Shares set for their worst day since April 16, if losses
hold 
    ** Stock has risen ~33.1% this year, as of last close

   ($1 = 1.5044 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))