Australia's Beacon Minerals falls on discounted entitlement offer

Beacon Minerals

18/09/2024 01:59

** Shares of Australia's Beacon Minerals  BCN.AX  fall as
much as 7.7% to A$0.024, its biggest intraday pct fall since Aug
27
    ** Gold miner announces issue of A$10.3 mln ($6.97 mln)
fully underwritten non‐renounceable entitlement offer
    ** Entitlement offer at issue price of A$0.022 per share,
representing a discount of 15.4% to stock's last closing
    ** Funds to be applied towards ongoing exploration at Timor
Leste, others - BCN
    ** Around 760,600 shares change hands, vs 30-day average
volume of 1.2 mln shares
    ** Stock has fallen 4% YTD, as of 0053 GMT


($1 = 1.4782 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))