Australia's Nagambie Resources falls on discounted placement

Nagambie Resources

01/08/2025 04:24

** Shares of Nagambie Resources NAG.AX fall as much as 23.5% to A$0.013, hitting their lowest since June 30

** Stock marks its biggest intraday pct loss since Oct. 28, 2024

** Mineral explorer raises A$1.2 million ($772,560.00) via placement at an issue price of 1.3 Australian cents per share

** Issue price is at a 23.5% discount to stock's last close

** For the week, NAG up 6.3% so far

** Stock down 22.2% this year, including the day's move

($1 = 1.5533 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))