Australia's Corazon Mining slides on discounted placement

Corazon Mining

03/12/2025 03:04

** Corazon Mining CZN.AX slides as much as 19.4% to A$0.145; marks biggest intraday pct loss since October 17

** Stock hits lowest since November 27

** Mineral explorer receives firm commitments to raise A$1.8 million ($1.2 million) via placement at A$0.15

** Offer price represents 16.7% discount to last close

** Funds will be used to accelerate the maiden drill programme at Feather Cap and Two Pools Gold Projects in Western Australia

** About 877,186 shares traded, 5.8x the 30-day average

** YTD, CZN up 50%

($1 = A$1.5216)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))