Australia's Golden Mile Resources falls on discounted placement

Golden Mile Resources

09/09/2021 06:51

** Shares of Golden Mile Resources Ltd  G88.AX  drop as much
as 9.8% to A$0.055, their biggest intraday pct fall since Aug 5
    ** The gold explorer says it raised A$1.6 mln ($1.18 mln)
via placement to fund co's exploration programs at Yarrambee
base metals project in Western Australia  urn:newsml:reuters.com:*:nGLF7wsKlV
    ** Placement at issue price of A$0.05 per share, an 18%
discount to stock's closing price on Sept 6, when it last traded
    ** Adds that investors who subscribe under placement will
receive one free attaching listed option for every four shares
subscribed
    ** G88 stock up 8.9% this year, as of last close
    
  
($1 = 1.3604 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))