Australia's Lachlan jumps on funds for drilling at gold and copper projects

Lachlan Star

26/09/2024 01:46

** Shares of Lachlan Star  LSA.AX  rise as much as 11.5% to
A$0.145, hitting their highest level since Feb. 8, 2023
    ** Mineral explorer receives commitments to raise A$4.5 mln
($3.07 mln) at an issue price of A$0.10 per share
    ** Says proceeds will be used to initiate drilling at its
high potential copper and gold projects in Lachlan fold belt of
New South Wales
    ** Says issue price is at a 31% discount to stock's last
close
    ** Stock has more than doubled in value so far this year

($1 = 1.4641 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))