Australia's Dundas Minerals slumps on discounted capital raise

Dundas Minerals

10/11/2023 04:01

** Shares of Australia's Dundas Minerals  DUN.AX  fall as
much as 18.6% to A$0.057, on track for their worst day since
Feb. 23, if losses hold
    ** Metal explorer says it will raise up to A$500,000 
($317,950.00) via a share purchase plan at an offer price of
A$0.056 per new share
    ** Offer price represents a 20% discount on co's last close
on Tuesday
    ** Stock hits its lowest level since Nov. 1
    ** Nearly 500,000 shares change hands, compared with the
30-day average volume of 32,729
    ** Stock down 54.8% YTD, based on last close

($1 = 1.5726 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))