Australia's Kula Gold shares track best day since February on fund raise

Kula Gold

19/09/2022 02:48

** Shares of Australia's Kula Gold Ltd  KGD.AX  rise as much
as 35% to A$0.027, post biggest intraday pct gain since Feb. 3
    ** Stock hits its highest since Sept. 7
    ** Gold explorer says received firm commitments to raise
A$1.8 mln ($1.21 mln) via a two-tranche placement of
shares urn:newsml:reuters.com:*:nASX28P6Y7
    ** Co will issue shares at A$0.02 per share 
    ** Says funds raised will be used for accelerating lithium
exploration work at Brunswick project in South West Australia
    ** More than 3.3 mln shares change hands, compared with the
30-day average of 476,220 shares
    ** Stock had fallen 56.5% this year, as of last close

($1 = 1.4883 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))