Australia's Gateway Mining posts worst fall in 3 weeks

Gateway Mining

25/01/2023 03:30

** Shares of Gateway Mining  GML.AX  falls as much as 7.1%
to A$0.065, seeing their worst day since Jan 3 - if losses hold 
    ** The gold explorer says it has received firm commitments
to raise $2.5 million via a share placement  urn:newsml:reuters.com:*:nFWN3493R5
    ** Says funds raised will be used for exploration at its
flagship 500koz Montague Gold Project in Western Australia,
which is planned to restart ops in Feb 
    ** Issue price of A$0.062 is at a 11.42% discount to last
closing price on Jan 20 
    ** Shares hit lowest since Jan 13 
    ** Stock had fallen 53.9% in 2022, on YTD basis up 16.7% as
of last close  
 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))