Australia's Buxton Resources falls most in 3 weeks on discounted capital raising

Buxton Resources

11/04/2023 04:57

** Shares of Buxton Resources  BUX.AX  slump as much as
12.5% to A$0.175, posting their biggest intraday pct fall since
March 20
    ** The base metals explorer says it is making an offer to
shareholders to participate in a share purchase plan to buy up
to A$30,000 ($20,004.00)
    ** Issue price of 16 AU cents per share is at a 20% discount
to last close on April 6
    ** Says funds raised under plan will be used to fund
exploration and development activities in Graphite Bull Project,
among others
    ** Shares touch their lowest level since March 21
    ** Stock up 73.9% YTD, as of last close

($1 = 1.4997 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))