Australia's Diablo resources slumps on discounted placement

Diablo Resources

21/09/2023 02:09

** Shares of Diablo Resources  DBO.AX  fall as much as 11.1%
to A$0.040, lowest since May 23
    ** Mineral explorer says it received firm commitments to
raise A$1 million ($642,400.00) in two-tranche placement
    ** Offer price of A$0.35 represents a discount of 22.2% to
stock's last close
    ** Funds to be used for completion of drilling at the co's
Devil’s Canyon and King Solomon Projects in USA - co
    ** 537,785 shares change hands, compared with the 30-day
average volume of 74,983
    ** Stock down 22.4% YTD as of last close


($1 = 1.5567 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))