Australia's Kalgoorlie Gold Mining slumps on discounted placement

Kalgoorlie Gold Mining

14/09/2026 02:32

** Shares of Kalgoorlie Gold Mining KAL.AX fall 13% to A$0.02, their lowest level since February 6
** Shares mark their biggest intraday pct loss since August 4
** Gold explorer announces A$2.3 million ($1.64 million)placement at A$0.02 per share, a 13% discount to last close 
** Says proceeds will be used to accelerate exploration activities throughout its Pinjin gold project in Western Australia
** Co also announces entitlement offer to raise further A$1.1 million
** More than 4 mln shares change hands, about 3.8x the 30-day average
** YTD, stock down 60%, including session's moves 
     
($1 = 1.3990 Australian dollars)

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