Australia's Mandrake Resources falls on discounted share placement

Mandrake Resources

11/06/2021 02:34

** Shares of gold explorer  MAN.AX  fall as much as 8.3% to
A$0.220, their biggest intraday pct loss since May 25 
    ** Co raises A$12 mln ($9.30 mln) at A$0.20 per share, an
18.4% discount to June 4 close, when the stock last traded
 urn:newsml:reuters.com:*:nASX5k2TJm
    ** Shares being offered represent 24.2% of co's free float 
    ** Stock hits lowest since June 1 and is on track for second
consecutive session of declines 
    ** Stock up more than double this year, as of last close 


($1 = 1.2898 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))