Australia's Pacgold slips on discounted capital raising
26/09/2024 02:02
** Shares of Pacgold PGO.AX fall as much as 17.2% to
A$0.120, set to lose most since July 17 - if current trends hold
** Gold explorer raises A$4.1 million ($2.80 million) at an
issue price of A$0.09 apiece
** Co says issue price is at a 37.9% discount to stock's
last close
** Adds, proceeds will be used to accelerate exploration
activities at its gold project in North Queensland
** Stock down 42% YTD as of 0058 GMT
($1 = 1.4641 Australian dollars)
(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com))