Australia's Hillgrove Resources plunges to over two-year low on discounted offering

Kantra Copper

04/03/2025 23:58

** Shares of Hillgrove Resources HGO.AX fall 17.5% to A$0.033, their lowest level since November 2022

** Co to raise up to A$16 million ($10 million) through placement and share purchase plan to increase copper production at a deposit in its Kanmantoo copper mine

** Offer price of A$0.035 per share a discount of 12.5% to the miner's last closing price of A$0.040 on February 28

** 5.9 million shares change hands, vs the 30-day average of 4.5 million

** Shares down 34.6% this year

($1 = 1.5952 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com;))