Australia's Gateway Mining hits near 2-week low on discounted placements

Gateway Mining

01/11/2023 24:38

** Shares of Gateway Mining  GML.AX  fall as much as ~4.2%
to A$0.023, their lowest level since Oct 19
    ** Stock of the Australian gold miner posts its biggest
intraday pct fall since Oct 19
    ** Co says it received firm commitments for capital raising
of A$1.55 mln ($982,700)
    ** Issue price of A$0.022 per share represents a discount of
8.3% to stock's last close
    ** Co adds its funds will be used to explore step-change
discoveries at the Montague gold project in Western Australia
    ** Stock down 60% YTD, as of last close

     ($1 = 1.5773 Australian dollars)

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