Australia's Black Cat Syndicate hits near 3-1/2 year-low on discounted placement

Black Cat Syndicate

29/08/2023 06:29

** Shares of Black Cat Syndicate  BC8.AX  fall as much as
21.7% to A$0.208, hit lowest level since March 23, 2020
    ** Gold miner says it received firm commitments to raise
A$8.3 mln ($5.35 mln) at an issue price of A$0.225 apiece
    ** Issue price is at a 15.1% discount to stock's last close
    ** Proceeds from the placement will be predominantly used
for drilling and evaluation activities at Paulsens, WA - co
    ** Stock set for worst day since April 19, 2022, if trend
holds
    ** BC8 down 25.4% YTD, as of last close


($1 = 1.5526 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))