Australia's Cauldron Energy falls on discounted placement

Cauldron Energy

06/10/2023 05:06

** Shares of Cauldron Energy  CXU.AX  fall as much as 9.1%
to A$0.010, its lowest level since Sept. 27
    ** Mineral explorer says received firm commitments to raise
A$1.6 mln ($1 mln), including A$198,000 via a placement and a
fully underwritten renounceable rights issue of A$1.4 mln
    ** Placement at an issue price of A$0.009, reflecting an
18.2% discount to stock's last close
    ** Nearly 12 mln shares change hands, versus 30-day average
of 8.5 mln shares
    ** CXU on course for worst week since June 10, 2022, if
losses hold
    ** Stock up over 57% this year, as of last close


($1 = 1.5694 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))