Australia's Blue Star Helium slumps on discounted raise

Blue Star Helium

05/09/2024 01:30

** Shares of Blue Star Helium  BNL.AX  slump as much as
33.3% to A$0.004, hitting their lowest since late August 
    ** Helium producer says it has received firm commitments to
raise A$3 mln ($2.02 mln) via a two-tranche share placement
    ** Issue price of A$0.004/share is at a ~33.3% discount to
the previous closing price on Sept 2 
    ** Co says funds raised will be used to advance helium
development in its Las Animas County acreage in Colorado
    ** Stock had fallen ~72.7% this year, as of last close

($1 = 1.4881 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))