Australia's Dreadnought Resources hits near 2-mnth low on discounted placement

Dreadnought Resources

05/08/2024 02:04

** Shares of Australia's Dreadnought Resources  DRE.AX  fall
as much as 15% to A$0.017, its lowest level since June 7
    ** Stock posts its biggest intraday fall since June 25
    ** The diversified miner announces A$3.71 mln ($2.41 mln)
placement at an issue price of A$0.018 per share
    ** Issue price represents a 10% discount to stock's last
closing
    ** Placement to advance niobium and gold exploration - DRE
    ** Around 10 mln shares change hands as of 0040 GMT, vs
30-day average volume of 4.8 mln shares
    ** Stock down 33.3% YTD as of last close


($1 = 1.5404 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))