Australia's Horizon hits over two-year low on discounted placement

Maritana Minerals

24/06/2022 03:54

** Shares of gold producer Horizon Minerals  HRZ.AX  fall as
much as 125% to A$0.085, hitting their lowest level since May
12, 2020
    ** HRZ says it received firm commitments for a A$4 million 
($2.76 million) placement  urn:newsml:reuters.com:*:nASX1Q8QCC
    ** Co to place 44.4 million shares at A$0.09/ share, a
10%discount to last closing price of A$0.10
    ** To raise an additional A$2 million via share purchase
plan priced at A$0.09/share
    ** Stock posts its biggest intraday pct fall since June 14
    ** More than 1 million shares change hands, compared with
the 30-day average volume of about 739,500 shares 
    ** Stock has fallen 23.1% this year as of last close


($1 = 1.4484 Australian dollars)
    

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))