Australia's Golden State Mining slides on discounted placement

Golden State Mining

13/11/2023 02:24

** Shares of Australia's Golden State Mining  GSM.AX  fall
as much as 24% to A$0.019
    ** Logs biggest intraday pct decline since Oct. 24
    ** The gold miner says completed bookbuild to raise A$1.5
mln ($954,300.00) in placement at issue price of A$0.017 per
share, representing a discount of 32% to stock's last closing
    ** Adds, funds to be used for lithium exploration strategy
at Paynes Find and Yule Nomad projects in Western Australia
    ** Issue of 88.2 mln shares represent ~0.6% of co's free
float of 154.02 mln shares - LSEG data
    ** Stock down 41.9% YTD, as of last close




($1 = 1.5718 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))