Australia's Far East Gold falls most in over 3 months on discounted placement

Far East Gold

31/07/2024 02:26

** Shares of Far East Gold  FEG.AX  fall as much as 13.9% to
A$0.155, their biggest intraday pct gain since April 12
    ** Stock at its lowest levels since July 16
    ** The copper and gold explorer receives commitments for
A$2.3 mln ($1.50 mln) placement at issue price of A$0.136 per
share
    ** Issue price represents a discount of 24.4% to stock's
last closing
    ** Funds raised will be used to execute co's projects,
drilling programmes 
    ** Stock up 38.5% YTD, as of last close

   ($1 = 1.5295 Australian dollars)

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