Australia's Legacy Minerals sees worst day in 2 weeks on discounted placement

Legacy Minerals Holdings

19/12/2022 02:29

** Shares of Legacy Minerals Holdings Ltd  LGM.AX  fall as
much as 7.7% to A$0.180, their biggest intraday pct loss since
Dec 7
    ** The gold miner says it has received firm commitments for
a cash placement to raise about A$1.2 mln ($805,800.00) before
costs
    ** Issue price of A$0.15 per share is at a 23.1% discount to
last close on Dec 14 
    ** Says proceeds from the placement to be used to expand
drilling at its Bauloora Project 
    ** Shares touch their lowest level since Dec 9 
    ** Legacy Minerals stock up 8.3% this year, as of last close
    ($1 = 1.4892 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))