Australia's Jameson Resources sees worst day in a decade on discounted share offering

Jameson Resources

20/07/2020 05:30

** Shares of Jameson Resources  JAL.AX  sink as much as 29%
to A$0.110, in their biggest intraday pct slump since April 2010
    ** Coal explorer announces placement of 39.565 mln new
shares to raise gross proceeds of about A$4.74 mln ($3.31 mln)
 urn:newsml:reuters.com:*:nASXbcb14g
    ** Issue price of A$0.12 per share represents a 22.6%
discount to the last closing price of A$0.155 
    ** Co says proceeds will be used to advance Crown Mountain
Hard Coking Coal project in British Columbia, Canada
    ** Shares of co hit their lowest level since April 2018
    ** More than 984,000 shares change hands, compared with the
30-day average of just about 29,200
    ** Stock, which entered trading halt on July 16 pending news
on capital raising, had dropped 16.2% this year, as of last
close

($1 = 1.4323 Australian dollars)

 (Reporting by Deepali Saxena)
 ((Deepali.Saxena@thomsonreuters.com;))