Australia's Alderan Resources falls on discounted placement

Hawk Resources

03/12/2024 03:59

** Shares of Alderan Resource  AL8.AX  fall as much as
13.3% to A$0.026, their worst levels since Nov 25
    ** Co to raise A$2 mln ($1.29 mln) through the issue of 80
mln new fully paid shares at an issue price of A$0.025 apiece 
    ** The issue price represents a discount of 16.7% as stock's
last close on Nov 28
    ** Funds to be applied to advance co's existing portfolio of
projects and assess new business opportunities
    ** Alderan stock has fallen 32.5% this year, as of last
close


    ($1 = 1.5466 Australian dollars)

 (Reporting by Namrata Verma in Bengaluru)
 ((Namrata.Verma@thomsonreuters.com;))