Australia's Chesser Resources slips most in 5 months on discounted placement

Chesser Resources

31/03/2022 02:10

** Shares of Chesser Resources Ltd  CHZ.AX  slip as much as
11.5% to A$0.115, their biggest intraday pct drop since Oct 29
    ** The gold explorer says it has received firm commitments
to raise A$12 mln ($9.01 mln) via a share placement  urn:newsml:reuters.com:*:nFWN2VX1FB
    ** Co says funds raised will be used to complete the
drilling programmes in the high-grade Diamba Sud gold project in
Senegal, West Africa
    ** Issue price of A$0.105 per share is at a 19.2% discount
to the last closing price on March 28
    ** Shares hit a one-week low
    ** Stock up 4% this year, as of last close

     ($1 = 1.3321 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))