Australia's Black Cat Syndicate falls on discounted placement

Black Cat Syndicate

29/10/2024 24:10

** Shares of Black Cat Syndicate  BC8.AX  fall as much as 15% to
A$0.54, marking their weakest trading session since June 4 
    ** Stock hits lowest level since Oct 15
** Gold producer receives firm commitments for raising A$80 mln
($52.66 mln) via a two-tranche placement at A$0.52 per share
    ** Offer price at an 18.1% discount to its last close on Oct
24, before shares were placed on a trading halt   
    ** About 4.9 mln shares change hands, compared with the
30-day average volume of 2.6 mln
    ** Stock has risen 122%, YTD
     
    ($1 = 1.5191 Australian dollars)

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