Australia's Cannindah Resources hits more than 3-month low on discounted placement
14/02/2023 02:39
** Shares of Cannindah Resources CAE.AX drop as much as
4.4% to A$0.220, their lowest level since Nov 3, 2022
** Copper and gold explorer says received commitments to
raise A$2.75 mln ($1.91 mln) in a placement of 13.75 mln shares
** Issue price of A$0.20 per share at a 13% discount to last
close on Feb 9
** Co says funds raised to be used for drilling and
exploration programme at Mt. Cannindah project in central
Queensland, among others
** Shares post their biggest intraday pct fall since Jan 24
** Stock had fallen 4.2% this year, as of last close
($1 = 1.4386 Australian dollars)
(Reporting by Echha Jain in Bengaluru)
((Echha.jain@thomsonreuters.com))