Australia's GBM Resources falls on discounted share placement

Gbm Resources

04/05/2023 05:13

** Shares of Australia's GBM Resources Limited  GBZ.AX  fall
as much as 18.2% to A$0.027
    ** Stock hits lowest and marks worst day since April 18   
    ** Gold miner says co has received firm commitments for a
placement to raise A$1.5 million (before costs), priced at
A$0.027 per share  
    ** Offer price is at a discount of about 18.2% to the
stock's last close
    ** GBZ has fallen 23.3% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))