Australia's Kingwest Resources falls on discounted share purchase plan

Kingwest Resources

14/07/2022 02:35

** Shares of Kingwest Resources  KWR.AX  fall as much as
18.75% to A$0.065, their worst intraday session since June 17
    ** Kingwest announced share purchase plan to raise up to
A$1.5 mln  urn:newsml:reuters.com:*:nASX5J9xk7
    ** Offer price of A$0.065 represents an 18.75% discount to
last closing price of A$0.08 on June 13
    ** Funds to be utilised for exploration at co's Lake
Goongarrie gold discovery in Western Australia   
    ** Shares hit their lowest levels since July 6
    ** More than 967,000 shares change hands, compared with the
30-day average volume of about 916,500 shares 
    ** Kingwest stock down about 59% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))