Australia's Greenstone Resources falls on discounted placement

Greenstone Resources

24/07/2023 02:17

** Shares of Greenstone Resources  GSR.AX  fall as much as
12.5% to A$0.014, their lowest level since June 29
    ** Co to raise A$1.7 mln ($1.14 mln) through placement at
issue price of A$0.013 per share
    ** Issue price represents 18.8% discount to stock's last
close
    ** Co also proposes share purchase plan to raise A$250,000
    ** About 2.4 mln shares change hand compared to 30-day
average of 1.6 mln shares
    ** Stock down 50% YTD, as of last close

($1 = 1.4861 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))