Golden State Mining faces worst day in 2 weeks on discounted placement

Golden State Mining

24/05/2023 02:28

** Shares of Golden State Mining Ltd  GSM.AX  slide as much
as 6.3% to A$0.03 - on track for worst day since May 10, if
losses hold
    ** Gold miner says completed bookbuild to raise A$2 mln 
($1.36 mln) in a placement
    ** Issue price of A$0.027 per share represents a discount of
18.6% to last close of A$0.032
    ** More than 561,000 shares change hands, four times the
30-day average volume 
    ** Stock down 25.6% this year, as of last close

($1 = 1.4743 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))