Australia's Okapi Resources at 3-1/2 year-low after discounted placement

Global Uranium and Enrichment

04/09/2023 02:39

** Shares of Okapi Resources  OKR.AX  fall as much as 33.3%
to A$0.070, lowest since Feb 24, 2020
    ** Mineral explorer receives commitments to raise A$1.5 mln
($969,300.00) through placement of 25 million new shares at an
issue price of A$0.06 per share, a 42.9% discount to the stock's
last closing on Wednesday 
    ** Stock snaps three-day winning streak; OKR was on a
trading halt in last two sessions 
    ** Stock set for worst day since June 19, 2020, if losses
hold
    ** OKR down 30% this year, as of last close


($1 = 1.5475 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))