Australia's Barton Gold faces worst day in 20 months on discounted placement

Barton Gold Holdings

27/03/2024 24:21

** Shares of Barton Gold Holdings  BGD.AX  fall as much as
15.3% to A$0.250 - set for worst day since July 27, 2022, if
current losses hold
    ** Stock hits lowest level since March 7
    ** Gold explorer says received firm commitments to raise A$3
mln ($1.96 mln) via private placement 
    ** Placement at A$0.24 per share, a discount of 18.6% to
stock's last close
    ** Says share purchase plan targeting A$1 mln at same price
    ** Says proceeds to fund studies at Tunkillia project and
drilling at Tarcoola project in South Australia
    ** About 1 mln shares change hands, compared with the 30-day
average volume of 317,500
    ** Stock had risen 11.3% this year, as of last close

($1 = 1.5295 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))