Australia's Dateline Resources marks worst session in over 1 year on discounted placement

Dateline Resources

09/06/2022 03:07

** Shares of Dateline Resources  DTR.AX  fall as much as
25.4% to A$0.11, their biggest intraday loss since March 2021
    ** The mineral explorer says it received firm commitments of
about A$4 mln ($2.87 mln) through a placement of 40 mln shares
 urn:newsml:reuters.com:*:nASX1jhhhn
    ** The issue price of A$0.10 represents a discount of 32.2%
to June 7 close, when the stock last traded 
    ** Co says funds will be used to accelerate the explorer's
U.S.- based projects 
    ** Nearly 2 mln shares change hands, compared with the
30-day average of 314,560 
    ** Stock up 71.5% this year, as of last close 
    

    ($1 = 1.3930 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))