Australia's Critical Resources falls on discounted capital raise

Critical Resources

27/07/2023 02:26

** Shares of Critical Resources Ltd  CRR.AX  fall as much as
11.3% to A$0.047, posting their biggest intraday pct drop since
May 5
    ** Exploration co to raise A$7.9 mln ($5.35 mln) via
flow-through share placement 
    ** Says A$2.3 mln to be raised through a placement at an
issue price of A$0.045 per share
    ** Issue price at a 21.1% discount to stock's last close 
    ** Shares hit their lowest level since July 5
    ** Shares up 23.3% YTD, as of last close 
   
($1 = 1.4765 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))