Australia's Lindian Resources falls on discounted placement

Lindian Resources

12/07/2023 03:49

** Shares of Lindian Resources  LIN.AX  down 14.5% at
A$0.355, set for worst day since Dec. 2, 2022, if trend holds
    ** Mineral explorer says it has received commitments to
raise A$35 mln ($23.58 mln) to facilitate third tranche payment
for acquisition of Rift Valley Resource Developments
    ** Issue of price of A$0.33 per share represents a discount
of 20.5% to co's last closing price of A$0.415
    ** LIN shares at its lowest level since June 29
    ** Stock up 167.7% YTD, as of last close
 


($1 = 1.4841 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))