Australia's Kalamazoo Resources rises on premium placement

Kalamazoo Resources

07/10/2026 01:21

** Shares of Kalamazoo Resources Ltd KZR.AX gain as much as 17.9% to A$0.165, their biggest intraday pct gain since June 15
** Stock hits their highest level since September 9
** Gold and base metals exploration co announces A$10 million ($6.98 million) placement
** Issue price of A$0.18 per share represents a premium of 28.6% to its last close on October 5, before it sought a trading halt
** Proceeds to be used for ongoing resource-growth drilling, among others
** 1.1 mln shares change hands, 2.7x the 30-day average 
** Stock down 18.8% YTD, including session moves
     
     
($1 = 1.4331 Australian dollars)

(Reporting by Rudrannsh Mehra in Bengaluru)
((Rudrannsh.Mehra@thomsonreuters.com))