Australia's Lefroy Exploration falls on discounted placement

Lefroy Exploration

22/09/2023 01:51

** Shares of Lefroy Exploration  LEX.AX  fall as much as 10%
to A$0.180, lowest level since July 3
    ** Gold miner says received firm commitments to raise A$6.2
million ($3.97 million) in a heavily oversubscribed share
placement
    ** Issue price of A$0.16 was at a 20% discount to the
stock's last closing price
    ** Proceeds of the Placement will be used to accelerate
exploration at their Location 45 project, WA - co
    ** Stock set for worst day since July 20, if losses hold
    ** 62,763 shares change hands, compared with the 30-day
average volume of 44,001
    ** LEX set for worst week since July 21 if losses hold
    ** LEX down 23.1% YTD as of last close


($1 = 1.5608 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))