Australia's Black Cat Syndicate sees worst day in about 4 months on discounted placement

Black Cat Syndicate

19/01/2023 24:08

** Shares of Black Cat Syndicate  BC8.AX  slump as much as
8.9% to A$0.410, post their biggest intraday pct loss since Sept
26, 2022
    ** Mineral explorer says it has received firm commitments to
raise A$17 mln ($11.80 mln) via placement
    ** Issue price of A$0.40 at an 11.1% discount to last close
on Jan 16
    ** Co says funds raised will be primarily used to accelerate
drilling at Paulsens Gold Operations 
    ** Volumes 4.4x the 30-day average of 357,169 shares
    ** Stock fell 40.8% in 2022
($1 = 1.4401 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))