Australia's Flynn Gold falls on discounted placement

Flynn Gold

04/04/2024 04:19

** Shares of Flynn Gold  FG1.AX  fall as much as 2% to
A$0.048
    ** Stock at its lowest level since March 28
    ** Gold explorer announces one-for-two renounceable rights
issue to raise up to A$2.5 million ($1.64 million) at 3
Australian cents per share
    ** Issue price represents a 38.8% discount to FG1's last
close
    ** About 196,300 shares change hands, 1.4x the 30-day avg
volume
    ** Stock down ~6% YTD, as of last close


($1 = 1.5209 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))