Australia's Calidus Resources falls most in about 3 months on discounted capital raise

Calidus Resources

21/04/2023 03:28

** Shares of Calidus Resources Ltd  CAI.AX  slump as much as
20.8% to A$0.210, posting their biggest intraday pct loss since
Jan 27
    ** Gold producer says it has received firm commitments for a
single tranche placement to raise A$23 mln ($15.46 mln) before
costs
    ** Says it will also raise a further A$5 mln before costs in
a share purchase plan  
    ** Issue price A$0.21 per share for both, representing a
20.8% discount to last close on April 18
    ** Says money raised will be used for general working
capital and to ensure co is well funded to execute growth
strategy for Warrawoona gold project in Pilbara
    ** Shares hit their lowest since April 4 and on track for a
third consecutive session of drop 
    ** Volumes 3.3x the 30-day average of about 1.5 mln shares
    ** Stock has fallen 22.8% so far this week, on track for
worst week since Jan 27 if losses hold 
    ** CAI stock down 1.9% YTD, as of last close

($1 = 1.4874 Australian dollars)

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