Australia's Calidus Resources falls most in over 2 yrs on discounted placement

Calidus Resources

12/08/2022 06:56

** Gold miner Calidus Resources Ltd  CAI.AX  falls as much
as 11.8% to A$0.675, its biggest intraday pct drop since March
2020
    ** Says got firm commitments for a A$20 mln ($14.25 mln) via
an institutional placement (https://bit.ly/3PcNObS)
    ** Co to issue about 29.9 mln shares at A$0.67 per share
    ** Offer price represents a 12.4% discount to stock's last
close on Aug. 9; stock on trading halt since Wednesday
    ** Says funds raised to be used to fund projects including
lithium exploration at the Pirra Lithium Joint Venture, among
others
    ** As of last close, shares up 21.4%
    

($1 = 1.4039 Australian dollars)

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