Australia's Pacgold loses most in over 1 year on discounted placement

Broken Hill Gold

10/10/2025 01:01

** Shares of Australia's Pacgold PGO.AX fall as much as 15.6% to A$0.076, their biggest intraday pct fall since late-September 2024

** Stock at its lowest level since October 1

** PGO stock down 13% for the week, on track to record its worst week since May 30

** Gold explorer announces A$13.0 million  ($8.53 million) placement at an issue price of A$0.075 per share

** Issue price at a discount of 16.7% to stock's last closing

** Near 6.1 million shares change hands, 5.2x the 30-day average

** Stock has risen 4% this year, as of 2353 GMT

($1 = 1.5249 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))