Australia's Corazon Mining slips on discounted placement to Westgold Resources

Corazon Mining

19/05/2026 06:29

** Shares of Corazon Mining CZN.AX fall as much as 20% to A$0.16, their lowest level since May 8

** On track for worst session since October 17, 2025

** Mineral explorer to issue 47.6 million shares worth A$16.5 million ($11.76 million) to Westgold Resources WGX.AX

** Acquires Chalic Gold Project from Westgold for A$27.5 million

** Issue price of A$0.14 per share represents a discount of 30% to stock's last close

** About 211,000 shares change hands, 1.4 times the 30-day avg

** Stock down 3% YTD, including the session's moves

($1 = 1.4025 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))