Australia's Nagambie Resources slides on discounted entitlement offer

Nagambie Resources

17/11/2023 02:46

** Shares of Nagambie Resources  NAG.AX  fall as much as
18.9% to A$0.030, set for worst day since Oct. 8, if losses hold
   
    ** Gold miner announces a pro-rata 2 for 3 non-renounceable
entitlement offer to raise up to A$11.6 million ($7.50 million)
    ** Issue price of A$0.3, at an 18.9% discount to stock's
last close
    ** 825,754 shares change hands, compared with the 30-day
average volume of 381,503
    ** Stock set for first week of losses after three of gains,
if losses hold
    ** Stock at lowest level since Nov. 8
    ** NAG down 44.8% YTD as of last close

($1 = 1.5473 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))