Australia's Miramar Resources hits record low on discounted capital raise

Miramar Resources

21/06/2023 03:05

** Shares of Miramar Resources Ltd  M2R.AX  plunge as much
as 28% to A$0.036, a record low
    ** Gold miner receives firm commitments to raise A$1.5 mln 
($1.02 mln)
    ** Issue price of A$0.03 represents a 66.7% discount to co's
last closing of A$0.05 on June 16
    ** The company had sought a trading halt on its shares on
June 19, pending an announcement on the proposed capital raise 
    ** More than 589,968 shares change hands, 7x the 30-day
average volume 
    ** Stock down 37.5% this year, as of last close



($1 = 1.4730 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))