Australia's Kalamazoo Resources slumps on discounted placement

Kalamazoo Resources

20/07/2026 04:20

** Shares of Australia's Kalamazoo Resources KZR.AX fall as much as 17.9% to A$0.115, hitting their lowest since June 30 
** Gold and base metals exploration co announces A$8 million  ($5.59 million) oversubscribed placement 
** Issue price of A$0.12 per share represents a discount of 14.3% to its last close on July 15, before it went on a trading halt on July 16
** Placement increased from targeted amount of up to A$5 million following strong investor demand - co
** Proceeds to be used for resource growth and extension drilling at Mt Olympus, others 
** Mt Olympus is a deposit of the Ashburton Gold Project in Western Australia
** Stock down 37.50% YTD, including session's moves 


($1 = 1.4304 Australian dollars)

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((Subhalakshmi.Dey@thomsonreuters.com;))