Australia's Asra Minerals slumps on discounted placement

Goldarc Resources

19/07/2022 02:05

** Shares of Asra Minerals  ASR.AX  slump as much as 24.1%
to A$0.022, set for their worst day since May 27, 2021, if
losses hold
    ** The gold explorer says it has received binding
commitments to raise A$2.7 mln ($1.84 mln) via share placement
 urn:newsml:reuters.com:*:nFWN2YZ25T
    ** Co says funds raised will be used to finish rare-earths
assaying, metallurgical test work among others at co's gold
prospects     
    ** Issue price of A$0.021 is at a 27.6% discount to the last
closing price on July 14, before it went on a trading halt 
    ** Shares hit highest since Jan 13
    ** Stock up 26.1% this year, as of last close

    ($1 = 1.4693 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))