Australia's Oar Resources falls on discounted placement

Core Energy Minerals

05/04/2024 03:28

** Shares of Oar Resources  OAR.AX  fall as much as 20% to
A$0.002, their lowest since March 8
    ** The battery and critical minerals developer to raise A$1
million ($657,000) at an issue price of A$0.002
    ** Stock posts its biggest intraday percentage fall since
March 8
    ** Issue price represents a 20% discount to OAR's last close
    ** About 9.6 mln shares change hands, 6x the 30-day avg
volume
    ** Stock down ~17% YTD, as of last close

   ($1 = 1.5221 Australian dollars)

 (Reporting by Neha  Soni)
 ((Neha.Soni@thomsonreuters.com;))