Australia's Black Cat Syndicate falls on discounted placement

Black Cat Syndicate

14/03/2025 02:37

** Shares of Black Cat Syndicate BC8.AX fall 6.7% to A$0.7975, their lowest level since February 20

** Gold producer says it will raise A$65 million ($40.9 million) via placement at A$0.76 per share

** Placement price represents a 9.5% discount to co's last close

** Says placement proceeds will be used for mine development at its Kal East Gold Operations in Western Australia

** About 7.7 million shares change hands vs the 30-day average of 3.4 million

** Stock up 41.2% this year, including the day's move

($1 = 1.5908 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)

 ((Aaditya.govindrao@thomsonreuters.com;))