Australia's E79 Gold Mines hits all-time low on discounted placement

E79 Gold Mines

26/06/2023 04:38

** Shares of E79 Gold Mines Ltd  E79.AX  fall as much as 19%
to all-time low of A$0.081 
    ** Gold explorer receives binding commitments for A$1.38
mln($923,220.00) placement    
    ** Shares set for worst day since Sept. 28, 2022, if losses
hold 
    ** Issue price of A$0.09 per share is at a discount of 10%
to stock's last close 
    ** Co says funds from placement will be applied towards
exploration programmes at its Laverton South and Murchison
projects in Western Australia 
    ** Shares of co are down 16.7% YTD as of last close 
   


($1 = 1.4948 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))