Australia's Cygnus hits over two-week low on discounted placement

Cygnus Metals

09/12/2022 24:40

** Shares of Cygnus Gold Ltd  CY5.AX  fall as much as 6.1%
to A$0.46, their lowest since Nov 22
    ** Gold and base metals miner receives firm commitments
totalling A$8 mln ($5.41 mln) through share placement 
    ** Placement at an at an issue price of 44 Australian cents
per share which is at discount of 10.2% to stock's last close
    ** Shares of co are up 180% YTD as of last close 
($1 = 1.4775 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))