Australia's Bellevue Gold slumps on discounted capital raise

Bellevue Gold

26/07/2024 01:57

** Shares of Bellevue Gold  BGL.AX  decline as much as 27.3%
to A$1.330, set to fall the most since Feb. 7, 2018 - if current
losses hold
    ** Gold explorer receives commitments to raise A$150 mln 
($98.15 mln) in a placement at an issue price of A$1.55/share
    ** Says issue price is at 15.3% discount to stock's last
close
    ** Says proceeds will be used to repay debt among others
    ** Stock hits its lowest level since Feb. 15
    ** Stock up 9.3% this year, as of last close

($1 = 1.5284 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))