Australia's Enegex hits over 2-1/2-year low on discounted placement

Famien Resources

17/03/2023 24:08

** Shares of Enegex Ltd  ENX.AX  slump as much as 28% to
A$0.018, their lowest level since Aug 12, 2020
    ** The nickel miner says it has received firm commitments to
raise A$3 million ($2.00 million) via share placement
    ** Issue price of 1.5 AU cents per share is at a 40%
discount to last close on March 14
    ** Says funds raised to be used to advance co's mineral
exploration activities and general working capital 
    ** Shares post their biggest intraday pct loss since Aug 21,
2020
    ** ENX stock has slumped 28% this week, set for worst week
since Feb 3
    ** Stock has fallen 3.9% YTD as of last close 

    


($1 = 1.5008 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))