Australia's Cauldron Energy dips on discounted capital raise

Cauldron Energy

27/09/2024 03:11

** Shares of Cauldron Energy  CXU.AX  fall as much as 16% to
A$0.021, set for their worst session since Aug 5, if current
trend holds 
    ** The uranium explorer receives commitments to raise A$2
mln ($1.37 mln) via placement and ~A$2 mln via fully
underwritten non-renounceable entitlement offer
    ** Placement and entitlement offer issue price at A$0.018, a
28% discount to last trading price on Sept 24    
    ** Co says funds will be used to develop its Yanrey project
in Western Australia
    ** Including day's moves, CXU down 12.5% YTD

    ($1 = 1.4552 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))