Australia's Lefroy Exploration slips on discounted placement

Lefroy Exploration

13/12/2022 24:22

** Shares of Lefroy Exploration Ltd  LEX.AX  slide as much
as 10.7% to A$0.25, hitting their lowest since Nov. 4
    ** Gold and nickel explorer says it got firm commitments of
A$3.5 mln ($2.36 mln) through a placement of 14.6 mln new shares
 urn:newsml:reuters.com:*:nFWN3322QW
    ** The issue price of A$0.24 is discount of 14.3% to LEX's
last close on Thursday after which shares halted trading
    ** Funds raised will be used to advance exploration at
Eastern Lefroy Gold Project in Kalgoorlie
    ** Stock has dropped 8.2% so far this year, as of last close
($1 = 1.4804 Australian dollars)
 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))