Australia's Cauldron Energy hits over 2-month low after capital raise plan

Cauldron Energy

02/12/2022 03:10

** Shares of Cauldron Energy Ltd  CXU.AX  falls as much as
5% to A$0.0095, their lowest since Sept. 14 
    ** Uranium, gold and sand miner receives firm commitments
from sophisticated and professional investors to raise A$637,922
 ($433,786.96)  urn:newsml:reuters.com:*:nASX5HFrp3
    ** Placement is at an issue price of A$0.007 per share,
which is a 30% discount to stock's last close 
    ** Co to raise additional A$1.6 mln via a fully underwritten
non-renounceable rights issue at the rate of one new share for
every three shares, at A$0.007 per share
    ** Co sees biggest intraday fall since Nov 23
    ** Shares of co are down 65.5% YTD as of last close 
($1 = 1.4706 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))