Australia's Marvel Gold gains on premium A$4.2 mln equity raise

Marvel Gold

10/08/2021 04:29

** Shares of Marvel Gold Ltd  MVL.AX  rise 1.85% to A$0.055
- marking their busiest trading day since May 19 
    ** Stock rose as much as 16.66% to A$0.063, their highest
since Nov. 23    
    ** Mali-focused gold explorer receives binding commitment to
raise A$4.2 mln ($3.07 mln) via placement of 70 mln new shares,
representing 13.75% of current outstanding shares  urn:newsml:reuters.com:*:nFWN2PG1EH
    ** Placement at A$0.06 per share, a premium of 11.1% to
stock's last close 
    ** Adds new investor Delphi Unternehmensberatung AG, which
alongside unit Deutsche Balaton AG will hold a 11.6% stake in
MVL 
    ** 5.5 mln shares change hands vs 30-day average of 483,000
shares - Refinitiv data 
    ** Stock up 5.88% so far this year, as of last close 
    
($1 = 1.3659 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((Dhriti.Garg@thomsonreuters.com;))