NZ's Chatham Rock Phosphate sees best day in over 2 months on fundraising

Chatham Rock Phosphate

08/05/2020 05:39

** Shares of Chatham Rock Phosphate Ltd  CRP.NZ  rise as
much as 4.8% to NZ$0.11, marking their biggest intraday pct gain
since Feb. 25
    ** Mineral explorer announces placement of up to 12.5 mln
units for gross proceeds of up to NZ$1.25 mln ($765,000.00)
 urn:newsml:reuters.com:*:nNZW79DbBF
    ** Says this level of funding will sustain the company well 
into 2021
    ** Placement at an issue price of NZ$0.10 - a discount of
4.8% to stock's last close
    ** Shares hit their highest level in more than three weeks
    ** Stock has dropped 43.9% this year, as of last close 
    
($1 = 1.6340 New Zealand dollars)

 (Reporting by Deepali Saxena)
 ((Deepali.Saxena@thomsonreuters.com;))