Australia's Dateline Resources hits record low on discounted capital raise

Dateline Resources

09/10/2023 01:41

** Shares of Dateline Resources  DTR.AX  slip as much as
23.1% to A$0.10, a record low 
    ** Shares post their biggest intraday pct fall since March 3
    ** The gold miner says it has undertaken a partially
underwritten 1-for-1 non-renounceable rights issue offer of new
shares to raise gross proceeds of up to A$8.85 mln ($5.64 mln)
    ** Issue price of A$0.01 per new share is at a 23.1%
discount to last close on Oct 5 
    ** Says proceeds raised are intended to be used to fund
further exploration and to reduce debt
    ** About 2.0 mln shares exchange hands vs the 30-day average
of 720,429 shares
    ** DTR down 64.9% YTD, as of last close 



($1 = 1.5691 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))