Australia's Helix Resources slumps on discounted placement

Helix Resources

22/04/2024 02:25

** Shares of Helix Resources  HLX.AX  drop as much as 20% to
A$0.004, hitting their lowest since April 10 
    ** Diversified miner says it is undertaking a renounceable
entitlement offer to raise about A$2.3 mln ($1.48 mln)
    ** Issue price of 0.3 AU cents per share is at a 40%
discount to the last closing price on April 19 
    ** Funds raised will be used to testing copper targets in
Cobar region of central New South Wales - co
    ** Stock had risen 25% this year, as of last close

($1 = 1.5523 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))