Australia's ENRG Elements hits near 3-year low on discounted placement

Barys Resources

09/06/2023 03:58

** Shares of ENRG Elements  EEL.AX  dip as much as 30% to
A$0.011, hitting their lowest level since Sept 7, 2020
    ** The exploration co says it is undertaking a capital
raising via a non-underwritten share purchase plan to raise up
to A$1.5 mln ($1.01 mln) before costs 
    ** Issue price of A$0.0125 per share is at a 16.7% discount
to last close on June 6
    ** Says funds raised to be applied towards exploration
programs, predominantly at the Agadez Uranium Project, among
others 
    ** Shares post their biggest intraday pct fall since Jan 28,
2021 and are on track for a second consecutive session of losses
    ** About 6.8 mln shares exchange hands vs the 30-day average
of 849,597 shares
    ** EEL stock down 46.4% YTD

($1 = 1.4919 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))