Australia's Hawsons Iron sees worst day in two months on discounted capital raise

Hawsons Iron

01/02/2023 02:33

** Shares of Hawsons Iron  HIO.AX  slump as much as 14% to
A$40.080, seeing their worst day since Nov. 28
    ** The iron ore producer says it has received firm
commitments for a capital raise of up to A$8.8 million ($6.20
million) via a placement and a share purchase plan 
    ** Co says funds raised will be support a bankable
feasibility study for its flagship Hawsons Iron Project in New
South Wales
    ** Adds issue price of A$0.077 per share is at a 17.2%
discount to the last close on Jan. 31 
    ** Shares hit lowest since Dec. 29
    ** Stock has risen 13.4% this year, as of last close
($1 = 1.4186 Australian dollars)
 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))