Australia's Kula Gold tumbles on discounted rights issue
06/01/2025 03:40
** Shares of Kula Gold KGD.AX fall as much as 16.7% to
A$0.005, their lowest since Nov. 29. 2024
** Stock posts its biggest intraday decline since Nov. 29,
2024
** Gold explorer says it will raise A$1.6 mln ($996,000.00)
via rights issue at A$0.005 per share
** Issue price represents a 16.7% discount to co's last
close
** About 1.5 mln shares change hands, compared with the
30-day average volume of around 1.3 mln
** Stock dropped 60% in 2024
($1 = 1.6064 Australian dollars)
(Reporting by Aaditya Govind Rao in Bengaluru)
((Aaditya.govindrao@thomsonreuters.com;))
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