Australia's Brightstar Resources falls on discounted placement

Brightstar Resources

27/11/2023 02:28

** Shares of Australia's Brightstar Resources  BTR.AX  fall
as much as 7.7% to A$0.012, its lowest level since Nov. 13
    ** However, stock price still above upcoming placement of
A$0.011 per share, representing a discount of 15.4% to stock's
last closing 
    ** Gold developer says it received commitments to place A$5
mln ($3.25 mln)
    ** Issue of 455 mln shares represent 0.3% of co's free float
of 1.45 bln shares - LSEG data
    ** Co says funds to be used to accelerate exploration
activity and complete pre-feasibility study for Menzies &
Laverton Gold Projects mine restart in Western Australia
    ** Stock marks its biggest intraday pct fall since Nov. 20
    ** Shares currently down 3.9%, bringing YTD losses to 23.5%



($1 = 1.5366 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))