Australia's Brightstar slumps after discounted placement

Brightstar Resources

31/07/2023 06:10

** Shares of Brightstar Resources Ltd  BTR.AX  slide as much
as 15.4% to A$0.011, their lowest since Nov. 29
    ** Miner says it raised A$3.5 mln ($2.34 mln) via a
placement to accelerate its exploration and development
activities 
    ** Issue price of A$0.011 per share represents a discount of
18% to co's last closing price of A$0.013 on July 26
    ** Stock down 23.5% this year, as of last close



($1 = 1.4986 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))