Australia's Felix Gold tumbles on discounted placement

Felix Gold

22/05/2024 02:14

** Shares of Felix Gold  FXG.AX  fall as much as 17.9% to
A$0.055, their biggest intraday percentage decline since March
8, 2023
    ** Stock hits its lowest level since April 15
    ** The gold explorer says it will raise A$2.6 mln ($1.73
mln) via placement at an issue price of A$0.054 per share
    ** Issue price represents a 19.4% discount on co's last
close on Friday
    ** Shares were on a trading halt on Monday and Tuesday
    ** About 620,000 shares change hands, compared with the
30-day average volume of around 560,000
    ** Stock up 36.7% YTD, based on last close

    ($1 = 1.5002 Australian dollars)

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